NatWest broker rates going up from tomorrow (3rd Oct)

K_S

mose_2 said:

Well done. Did it have a complete by date by any chance?

@mose_2 NatWest doesn't use a 'complete-by' date for its products. Their offers will usually be valid for 6 months from the date that the offer is issued with the possibility to extend it for a further 1 month, so 6+1 months from the offer date.

'Complete-by' dates are used by Halifax, Lloyds and a few other lenders.

thriftypatos

mose_2 said:

Well done. Did it have a complete by date by any chance?

I think it was 31 October.

thriftypatos

thriftypatos said:

mose_2 said:

Well done. Did it have a complete by date by any chance?

I think it was 31 October.

Sorry, 31 October was the deadline for accepting and providing any paperwork. I think the offer will be valid for 6 months?

thriftypatos

thriftypatos said:

thriftypatos said:

mose_2 said:

Well done. Did it have a complete by date by any chance?

I think it was 31 October.

Sorry, 31 October was the deadline for accepting and providing any paperwork. I think the offer will be valid for 6 months?

@mose_2 said - I’m getting my knickers in a twist, drunk on the emotional high of securing a decent rate 😂

K_S

@mose_2 I don't know how well it works but this MSE calculator is meant to help you compare two fixed rate products.
https://www.moneysavingexpert.com/mortgages/compare-fixed-rate-mortgages/

mose_2

Well I have applied too just got to wait to send docs and hope me being self employed isn’t a problem

ChemistDude

K_S said:

Just received notification from NatWest about broker rates going up, available from tomorrow. The email says the new rates are "immediately effective" so I imagine it's no longer possible to submit an application for the old rates but do check with your brokers if you have any applications ready to go.

See here for the latest product guide https://www.intermediary.natwest.com/intermediary-solutions/products.html

Please note this may or may not be applicable for direct rates, I am only talking about NatWest broker rates.

 

Just want to say a huge THANK YOU! I already had an urgent session with my broker booked for today as I was concerned about what's happening with rates. Our 5 year fix at 2.25% ends June 2023 and we managed to get an application in today with NatWest today for a 5 year fix at 3.8%. Had I not seen your post I may have stalled and waited till next week so thank you for that!

thriftypatos

ChemistDude said:

K_S said:

Just received notification from NatWest about broker rates going up, available from tomorrow. The email says the new rates are "immediately effective" so I imagine it's no longer possible to submit an application for the old rates but do check with your brokers if you have any applications ready to go.

See here for the latest product guide https://www.intermediary.natwest.com/intermediary-solutions/products.html

Please note this may or may not be applicable for direct rates, I am only talking about NatWest broker rates.

 

Just want to say a huge THANK YOU! I already had an urgent session with my broker booked for today as I was concerned about what's happening with rates. Our 5 year fix at 2.25% ends June 2023 and we managed to get an application in today with NatWest today for a 5 year fix at 3.8%. Had I not seen your post I may have stalled and waited till next week so thank you for that!

Great stuff, well done!

Ours actually went to referral because there was a discrepancy over our financial commitments. I know exactly what it was (new car finance lease will be showing on our credit report) and the broker submitted with an explanatory note and said it won’t be an issue - we are miles over the affordability criteria.

Am I right in thinking that the fact the application has been submitted means the funds have been booked and our rate is guaranteed provided the referral is sorted out? I am now worried they will unreasonably say “rejected” just to prevent us getting the lower rate! 

Broker told me to go home and stop worrying but of course I still am!

thriftypatos

FYI looks like Natwest's online (direct) rates have now also gone up. Eg. the rate we were looking at has jumped from 3.8 to 5.39.

snowqueen555

I can see that too. Halifax is still the same though for new mortgages. Likely to change this week?