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Nat West Bank

The National Westminster Bank was established 1968 as a result of a merger between the National Provincial Bank and the Westminster Bank, the head office is located in the City of London and there are over 1,600 branches across the UK. In the year 2000 it became part of the Royal Bank of Scotland Plc and now employs over 33,000 people. As you would expect from such a large banking institution there are a very wide range of mortgage products available.

You can choose a fixed rate, tracker or offset mortgage, and your choice will depend upon personal circumstances, the amount of deposit you are able to provide and your personal view of the economic situation. If you believe that the Bank of England Base Rate will increase over the period of your loan then you might like to choose a fixed rate mortgage, that will give you the security of knowing the exact amount that your monthly payments will be will be over the fixed rate period. Alternatively you may like to apply for a Tracker mortgage that follows the Base of England Base Rate, your repayments will be variable and may therefore go up as well as down.

Buyers with a household income of less than £60,000 can take advantage of the Government 'Homebuy Direct' scheme in England with a mortgage from Nat West Bank - this scheme is available to buyers of some new build properties to assist with getting you onto the property ladder. In Scotland you can apply for the Low Cost Initiative Scheme (LIFT) and receive a Local Government loan of between 20 & 40% of the property price, you must provide at least 5% of the purchase price and then apply for a Nat West mortgage to make up the difference.

Winner of Your Mortgage's 'Best Bank for mortgages 2009/10'.

Nat West Bank Mortgage Products

Tracker mortgages: This product takes the Bank of England Base Rate and adds a percentage to that figure for a fixed period of time - usually two years. In this way you benefit from and changes in the base rate but remember your monthly repayments may go up as well as down.

Fixed mortgages: You will pay a fixed rate of interest for the agreed period - this is usually 2 or 5 years. The amount of deposit you can provide will affect your interest rate, the maximum loan to value is 90%, with these products you have the security of knowing exactly how much you will be paying each month. At the end of the agreed term you will change over to the bank Standard Variable Rate and monthly repayments may fluctuate.

Offset mortgages: You will combine your nominated savings account with your mortgage account and thereby benefit from paying interest on the lower amount, this type of account can mean that your mortgage is paid of earlier than if you choose a traditional mortgage.

I If you are interested in a mortgage quotation including those offered by Nat West Bank please complete our quick enquiry form.