View more on these topics

NatWest calls on borrowers to switch their mortgage

NatWest is urging Halifax, Abbey, Lloyds TSB, and Barclays customers to switch their mortgage to NatWest.

The Royal Bank of Scotland brand promises to give £1,000 to customers if they are coming to the end of their current fixed, discount or tracker deal and NatWest is unable to lower the monthly repayments on the new deal they are being offered by their lender.

There are conditions, though. Customers must have their mortgage with the providers listed and it must be for at least £50,000 with a loan to value of 75 per cent or less, and it must be ending shortly.

It excludes internet, staff concessionary, buy-to-let, stepped, offset, current account, extended tie-ins and any deal with a product fee of more than £999.

The monthly repayment comparison will be made against NatWest’s two-year tracker mortgage which is 0.11 per cent below base until September 2009 with an APR of 7.4 per cent.

NatWest mortgages managing director Craig Donaldson says: “For the majority of people the monthly mortgage repayment is their biggest outgoing and so it pays to shop around. The NatWest mortgage range is designed to make it simple for customers to choose the right deal for them.”

Recommended

Proportional representation

This article concludes my short series discussing key issues within director sharepurchase arrangements by first considering who should pay the premiums under associated life policies and then summarising some of the key stages in establishing the arrangement.

GMAC upgrades website for intermediaries

GMAC-RFC has claimed it has made its on-line system even faster and easier to use.When a packager or intermediary proceeds to an on-line offer, they no longer need to send in a signed paper application form. All that may be required on cases is a fully completed and signed direct debit mandate.When completing the application […]

Defining moment

Several of the big protection brokers, including Lifesearch and Direct Life & Pensions, believe insurers should backdate any definition changes to critical illness policies.

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment