Press Room

NatWest Invites Homeowners to Take £1,000 Mortgage Challenge
(06 February 2006)

NatWest is taking its Mortgage Challenge to another level. Once again, customers from Halifax, Abbey, Lloyds TSB and C&G whose current mortgage deals are coming to an end are being invited to take the NatWest Mortgage Challenge. As before, NatWest is so confident that it can lower their new monthly repayments that this time it is raising its promise to £1,000 if it can’t!

Guy Aldwinckle, Head of NatWest Mortgages, commented: "Forecasts predict that 45% of the mortgage market in 2006 will be remortgages*. For most people, their monthly mortgage repayment is their biggest outgoing and so it pays to shop around. At NatWest, our offers include competitive discount and fixed deals, strong fees assisted deals, and even an eye catching fees-free deal for customers who want no additional up-front cost or hassle."

The monthly repayment comparison will be made against NatWest’s new 4.45% two-year discount, with an overall cost for comparison of 6.5% APR (variable). To coincide with the new mortgage challenge NatWest will also be offering an enhanced range of mortgage products. The range includes a 5.29% two-year discount for remortgage that comes without any fees and a 3.79% 1-year discount.

For more details on how to take the NatWest £1,000 Mortgage Challenge, customers should visit their nearest branch or call 0800 404 8900 or visit natwest.com/mortgages.

Notes to Editors:

  • Case studies available on request
  • NatWest’s Mortgage Challenge:
    • Customers must have their mortgage with Abbey, Halifax, Lloyds TSB or C&G to qualify for the £1,000 challenge. Customers must not be tied into the deal with their current lender. Customer’s current mortgage must be for at least £50,000 with loan to value of 75% or less.
    • Excludes internet, buy-to-let, offset, current account mortgages, stepped and extended tie-in deals.
    • Customers of Halifax, Abbey, Lloyds TSB and C&G must supply written proof of their new mortgage payment to qualify for the £1,000.
  • *Forecast from The Council of Mortgage Lenders (CML).
  • New products:


    • DealAPR % LTV up to ERC Notes
    Two year Discount - 4.45%6.5%75%2% for two years10% overpayment without charge per annum, £495 arrangement fee
    12 month Discount -
    3.79%
    (followed by 12 month tie to SVR)     		6.6%95%2% until 30/04/200810% overpayment without charge per annum, £395 arrangement fee
    Two year Discount -
    5.29%
    "Fees free"    		6.5%95%1% for two yearsRemortgage only. Free legal fees, free valuation, no remittance fee, no arrangement fee
    Two year Fixed -
    4.79%    		6.4%75%2% in year one, 1% in year two Purchase and remortgages - Remortgages receive free legal fees, free valuation, no remittance fee
    Buy-to-let, Lifetime Tracker 5.49%
    "Fees free"
    (Base rate +0.99%)     		5.6%80%2% for two yearsFree legal fees, free valuation, no remittance fee, no arrangement fee

Media Enquiries:
Mary Taylor
NatWest Media Relations Manager
Tel: 020 7672 1927
Email: mary.taylor@natwest.com