Natwest £1000 mortgage Challenge

Natwest Bank have offered customers of, Abbey, Halifax, Lloyds TSB and the Woolwich £1,000 if they can't beat their existing mortgage deal.

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 re mortgage that comes without any fees and a 3.79% 1-year discount.

Natwest £1000 mortgage

However, there are many caveats involved. Firstly it is only for customers with the big 4 banks mentioned. Often the best mortgage deals are with smaller regional building societies.

Also it excludes various mortgages, such as, Excludes internet, buy-to-let, offset, current account mortgages, stepped and extended tie-in deals.

Juliet Harris of mortgagefacts.co.uk says,

"The deal used for comparison by NatWest is unbeatable, based on the monthly repayments of the deals from the four lenders which match the challenge criteria"
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