NatWest Mortgages > Reviews (3)

I have had my Natwest Mortgage services since June 1999. I did the usual shopping around at all the major high street banks and a building societies looking for the best rate in the end all the information was giving a headache so I took a holiday. On my return I registered with a number of estate agents in the areas that interested me and spoke to a number of different independentmortgage financial advisers all of whom told me that they could get the best deal. I finally ended up with an independent mortgage adviser.

I found a flat fairly soon put in an offer which was accepted and went to see my mortgage adviser equipped with chequebook and the necessary documents. He explained all the different kinds of mortgages and made recommendations that suited my current needs. I opted for a fixed rate. He looked through the new deals that had just come through and Nawest were offering a fixed rate for 5.49% until 30 June 2002. I chose this repaying via an endowment policy as I wanted to know exactly what my monthly repayments would be for at least a couple of years that way I could budget myself as I was first time buyer and still had to furnish my flat.

I completed the necessary forms and paid the arrangement fee of £250 and waited for Natwest to send me an offer of mortgage advance. This advance confirms the terms of your new mortgage if successful. I was successful and Natwest sent me a mortgage offer folder this folder contained all the important documents relating to my mortgage. The folder contained:

The Mortgage Code
Mortgage Offer – a guide to the mortgage offer advance form
Mortgage – terms and conditions
Mortgage Offer - terms and conditions
The current guide to account charges

I was sent two copies of the offer of mortgage advance form one for my solicitor and the other and myself. The form is very self-explanatory and explains in detail what was agreed between the mortgage adviser and myself. The form also lists the special conditions relating to the advance. These should be read carefully and if you don’t understand them you should discuss it with your mortgage adviser, as soon as you receive it as Natwest gives you 21 days to accept the offer. The form also gives the option of two dates to pay your repayments the 5th or 22nd of each month. I chose the 5th as I feel it is better to get all-important payments out of the way first so any money left is mine to use for entertainment etc.

Natwest Mortgage Service keep you informed with your borrowing by sending you a copy of your annual mortgage statement at the end of each year this shows a breakdown in detail of all the payments that you make and lets you know the remaining term left.

I am very satisfied with the service they have provided me so far. Just before my fixed rate ends next year I will shop around to see if I can get another good deal. Incidentally during my yearly review with Lloyds TSB (main bank) I was asked why I didn’t have a C&G mortgage. I told me that when I spoke to someone there I was offered peanuts so went to an independent that got me the best deal and it happened to be Natwest.

I was told that it was an extremely good deal and C&G may be able to offer me something similar when my term runs out. I will speak to Natwest mortgage services first as they may have offers which I am not aware of before I make any decisions.

One thing my mortgage adviser did tell me was that most high street banks and building societies don’t always get the special deals that can benefit first time buyers. I found this quite disturbing as if I would have gone into any of the banks or building societies I may not have got such a good deal.