Tracker mortgage

The Bank of England is the central bank of the United Kingdom and their job is to ensure a stable and strong economy. They set their own base rate which in turn influences the rate lenders are able to offer for products like mortgages. Changes in the Bank of England base rate are one of the main reasons we change our National Westminster Bank Plc base rate, but it is not the only reason. We have full control over our own base rate and this could go up or down regardless of what happens to the Bank of England base rate

Track and Switch is a facility that allows you to take a Tracker mortgage now and switch onto a Fixed Rate mortgage later.  You can switch onto any Fixed mortgage after your mortgage has drawn down. You  will not be credit checked or credit scored again.

All Tracker products may be switched to any NatWest fixed rate product, subject to meeting the new product criteria and availability at the time of application and without incurring the Early Repayment Charge. You will also be subject to any fee(s) applicable to the new product at that time. The new Fixed rate product may also carry an Early Repayment Charge.

It is for customers who want to take advantage of a Tracker mortgage now but may want to fix their mortgage rate later or customers that are uncertain about fixing their rate now. You must be comfortable with a variable rate and a monthly mortgage payment which can change monthly.

Once your mortgage has drawn down, you will be able to switch it to a Fixed Rate mortgage by logging into your Manage My Mortgage portal.