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Home loan boost at NatWest

31 May 2005

NatWest has launched an annual ten per cent overpayment option on every one of its mortgage deals.

It follows a revamp of its range, and will mean that every year mortgage customers will get the change to reduce the cost of their loan without incurring the usual charges.

They now have the ability to overpay a maximum of ten per cent of their outstanding mortgage balance either with a single lump sum payment or spread across a number of smaller payments.

And importantly they will not be subject to the normal Early Repayment Charge.

"This move further underlines NatWest's commitment to offering attractive rates and features that prove popular with many customers," commented the director of mortgage sales for NatWest, Charles Haresnape.

"The overpayment option is popular with many people as it allows them the flexibility to accommodate changing circumstances."

It allows customers to be more flexible with their repayments should they receive unexpected windfalls, bonuses or inheritances.

The new look mortgage range includes a limited edition two-year discount remortgage deal at 4.89 per cent variable until August 31st 2007.