Natwest 5yr fixed mortgage @ 2.02% is ending, any idea what the standard variable rate will be?

brenda10
brenda10 Posts: 343 Forumite
Part of the Furniture Combo Breaker Mortgage-free Glee!
in Mortgages & endowments
Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments.
Any one any idea what the SV Rate might be from 1st July 2024.
Thanks.

Comments

  • ACG
    ACG Posts: 24,389 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    I had an offer issued with them on Thursday and it says the SVR is 8.24%. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • JGB1955
    JGB1955 Posts: 3,790 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    brenda10 said:
    Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments.
    Any one any idea what the SV Rate might be from 1st July 2024.
    Thanks.
    Google says... up to 8.24% at the moment.  Only NatWest can confirm your particular rate.
    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • BikingBud
    BikingBud Posts: 2,438 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    brenda10 said:
    Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments.
    Any one any idea what the SV Rate might be from 1st July 2024.
    Thanks.
    Does it not state on your current illustration, perhaps as a figure above BOE base rate?
  • amnblog
    amnblog Posts: 12,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It is 8.24%

    Check with a Broker on available NatWest rates, do not simply go direct (rates via Brokers are frequently a little lower)
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Exodi
    Exodi Posts: 3,617 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Combo Breaker
    JGB1955 said:
    brenda10 said:
    Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments.
    Any one any idea what the SV Rate might be from 1st July 2024.
    Thanks.
    Google says... up to 8.24% at the moment.  Only NatWest can confirm your particular rate.
    SVR isn't customer specific. Hopefully the OP isn't on this for too long, I did some napkin maths on a typical mortgage (£250k over 25 years) and it could almost see her payment double, ouch.
    Know what you don't
  • ReadySteadyPop
    ReadySteadyPop Posts: 1,266 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    Ouch indeed.
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