Great news! The window has now opened for customers to switch mortgage deals that end on 31st December 2020.  Over the next few weeks we will be writing to all customers who are rolling off in December, where we highlight the option of speaking to their previous broker, or a broker of their choice. Providing you with a great opportunity to review your customers mortgage needs.

What are the benefits of Product Transfers with NatWest?

  • No additional underwriting.
  • Quick, straight forward processing.
  • Customers can benefit from additional borrowing at the point of switching (subject to Underwriters decision).
  • Valuation options – The customers has the choice of accepting the House Price Index (HPI) value, or if they are not happy with the stated HPI value, they can proceed on the original house valuation or request a standard valuation. (This will be completed at a cost to the customer and they will need to call 0345 302 0190 to arrange this.)
  • Exclusive broker rates.
  • Existing customers on furlough or with payment holidays will be accepted on a like for like basis.

The facility is available for customers who are within their roll-off period (110 days before end date), those on a standard variable rate (SVR) and those with ‘track and switch’ functionality. The balance available to switch must also meet the product minimum of £10,000.

To process a Product Transfer, all you need to do is follow these 7 easy steps:

  1. Log on to the NatWest Intermediary Solutions website.
  2. Enter the customer’s basic details, including Mortgage account number, surname, date of birth, Post Code of secured Property.
  3. Valuation options – Accept the HPI value, proceed on the original house valuation or request a standard valuation to be completed.
  4. Choose a new deal from our competitive products.
  5. Ready to proceed – Once the above process is complete, all you need to do is confirm your customer is happy to proceed. We’ll then e-mail the documents to the customer and yourself.
  6. Accepting the deal – Customers are requested to accept the offer within 14 calendar days. (This can be done electronically.)
  7. The completion will take place as soon as possible after receipt of the acceptance or when the existing fixed rate expires