John Lawson
John Lawson
Last Updated: 22 Oct 2020
(Rated from 476 reviews)

NatWest Mortgage Calculator

Natwest

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Most Popular Reasons for Releasing Cash

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NatWest Mortgage FAQ’s

A mortgage1  is a loan taken out to buy property or land. Most run for 25 years but the duration can be shorter or longer. The loan is ‘secured’ against the value of your home until it is paid off. If you can’t keep up your dues they  can repossess (take back) your home and sell it so they get their money back. Natwest Mortgage Calculator – get a Natwest mortgage quotation and consult with an expert to learn more.

Although there are many different mortgages available for homes, they can all be split into these main categories.

Repayment Mortgage

Over the period or term of your mortgage, every month, year after year you steadily pay back the money you’ve borrowed, along with interest.2 

Interest-Only Mortgage

Over the term of your mortgage,3  you only pay off the interest. You you don’t actually pay off any of the mortgage. The monthly payments will be lower, but won’t reduce the capital you owe.

Fixed Rate Mortgage

With a fixed rate mortgage, your lender guarantees your interest rate will stay the same ‘fixed’4  for a set amount of time. Normally this guarantee is capped between 1–10 years.

Standard Variable Rate (SVR) Mortgage

SVR is a lender’s default. No deals, bells or whistles are included. Each provider is free to set their own SVR, and adjust it when they like.

Discounted Rate Mortgage

You get a discount on the lender’s SVR over a set period of time. This is a type of variable rate, so the amount you pay each month can change if the lender changes their SVR, which they’re free to do as they like.

Tracker Mortgage

They are a type of variable rate mortgages, which means you will probably pay a different amount to your lender each month. Tracker rates follow a particular interest rate to determine what you pay each month, then adding a fixed amount on top of that base rate.

Capped Rate Mortgage

These are variable mortgages, with a limit or ‘cap’ on how high the interest rate can rise. Often, the interest rate is higher than a tracker mortgage – so you might end up paying extra for that peace of mind.

Cashback Mortgage

When you sign up to your mortgage, the lender pays you a lump sum5  of cash (usually, a percentage of your loan).

Flexible Mortgage

These allow you to overpay and underpay and even take a payment holiday (skip a few monthly payments) if required.

Offset Mortgage

This is a way to use your savings to reduce the amount of interest you pay on your mortgage. You need to turn your mortgage into an offset mortgage, open a current or savings account with your mortgage lender and link that account and your mortgage up.

Get in touch to get more information.

With a Natwest mortgage, you need to use the money to raise funds to buy real estate, or alternatively if you’re an existing property owner you can raise funds for any purpose, while putting a lien on the property being mortgaged.

Note that mortgage plans are not right for everyone and it is important that you fully consider your options and receive independent financial advice before making a decision. It is also important that, if you do decide to use a Natwest Mortgage product, you choose one that meets your needs.

Remember that taking a mortgage is generally a long term option. However, there are many plans available that may fit your varying needs.

A financial adviser can help you to choose the plan that is right for you.

Use Some of Your Home's Value to Live Life Your Way

Working out how much you can borrow from mortgage providers is not straight forward. It is no longer a case of simply multiplying your salary by a certain number to arrive at the ‘magic number’.

However, here is a list of eight things that affect how much you can loan.

  • Credit Cards – If you use a credit card, it is always best to settle it off in full each month
  • Personal Loans & Hire Purchase  The monthly dues you make will be subtracted from your income, in turn reducing the level of disposable income from which to make a mortgage dues.
  • Pension Payments – there is no standard approach from mortgage lenders when looking at these. Some will view it in the same way as a loan – they will lessen the monthly income.
  • Children – the more people reliant on the income, the more this can decrease the maximum loan available.
  • Credit Score – mortgage lenders will gather data from the credit reference agencies & this will affect the loan you can get.
  • Term – the longer the duration the more you can borrow.
  • Deposit – the more deposit or equity you have, the more you can loan or the more favourable the interest you can get.
  • Income – the more you earn the more you can loan. However, not all income is treated equally. Payments from bonus, commission, overtime, shift allowance, self-employment are all looked at differently to basic salary.

There are a few variables but the biggest are the term, deposit and income. Find out how much you can borrow using our mortgage calculator.

If you’re tired of monthly mortgage payments, a NatWest mortgage might be a fantastic way for you to clear off that mortgage quickly. This is one of the many factors people choose a mortgage product.

Things change. If you’ve released money from your home in the past, you can often save money by getting a lower interest rate. Get an estimate and find out if you qualify for a lower interest rate.

 

What People Say

SovereignBoss is perhaps one of the most comprehensive mortgage portals for one reason: apply and within moments you’ll get connected with the nationwide lenders without any work on your part.

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PS – If you’re anything like us, you just skipped to the end anyway.

So here’s the scoop – we are offering to get you the best quotation for mortgage from the best mortgage companies.

Our intention is to help you save money by finding the best mortgage provider so that you can spend the money on something that you really want to, rather than on a high tax bill.
 
⚠️(Spoiler**) Most send us a personal thank you because we do such an incredible job – you’ve been warned. ⚠️
John lawson rndlg

John Lawson

John advises business, individuals, and organisations on pension planning. As you’ve probably realised by now, we’re invested in helping people like yourself understand a little bit more about how equity release options work.

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