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Press Room

NatWest Launches Annual 10% Overpayment Option on All Mortgages
(27 May 2005)

As part of its new look mortgage range, NatWest Mortgages has launched an annual 10% overpayment option on every deal.

This means that, every year, NatWest mortgage customers can overpay by a maximum of 10% of their outstanding mortgage balance without incurring an Early Repayment Charge. This overpayment can take the form of one lump sum or several smaller payments. This additional feature allows customers to take a more flexible approach to their mortgage and optimise additional finances, such as occupational bonuses or unforeseen windfalls, to reduce their mortgage.

The overpayment option is part of a new look mortgage range that includes a Limited Edition two-year discount remortgage deal at 4.89% variable until 31 August 2007. The deal comes with free valuation and free legals when using the Bank's nominated solicitor:



Rates
DealPercentage LTVPay RateAPREnd date
Limited Edition Two Year - Discount Remortgage DealUp to 75%4.89% variable (1.9% discount off SVR)6.7% Capital and Interest31/08/2007

Charles Haresnape, Director of Mortgage Sales for NatWest, said: "This move further underlines NatWest's commitment to offering attractive rates and features that prove popular with many customers. The overpayment option is popular with many people as it allows them the flexibility to accommodate changing circumstances."

For more information on NatWest's mortgage range call 0845 302 0192 or visit natwest.com/intermediaries.

Notes to Editors:

  • Further rate information:


    Rates
    Product Interest RateFollowed by NW SVRERCNotes
    4.89%currently 6.79%2% until 31/08/2007 Free valuation, free legal fees when using the Bank’s nominated solicitor, 10% annual overpayment allowed, 495 arrangement fee.


  • Only for use by Mortgage Intermediaries authorised by the FSA - conditions apply.