Offset Mortgages - NatWest
The National Westminster Bank was formed in 1968 following the merger of the National Provincial Bank and the Westminster Bank. Both banks' origins date back to the 1830s. National Westminster became simply NatWest in the 1990s. The Royal Bank of Scotland Group then acquired NatWest in March 2000 which became the biggest take-over in British banking history. As a result, the bank is today part of one of the largest financial services groups in the world.
NatWest offer a wide range of products and services designed to help their customers make the most of their money. Among these services is the NatWest Offset mortgage account.
This is an increasingly popular way to set up a mortgage and combines credit balances in current and savings accounts with the amount outstanding under a mortgage. The idea is that by giving up interest on the credit balances in the current or savings account, interest is saved on the mortgage. Also taking into saving in tax into account (normally tax would be payable on savings interest), there could potentially be a saving of thousands of pounds in monthly interest over the term of a mortgage.
This mortgage is also very flexible, allowing overpayments, payment reductions or payment holidays and having all the accounts one place makes things very simple. The account is very easy to manage with 24 hour access to accounts via the Internet or the telephone banking service to help keep track of the situation.
If you would like more information or if you would like independent advice about the best type of mortgage for you, please complete a Mortgage Enquiry Form above and we will arrange for one of our specialist mortgage advisers to contact you. Alternatively, you can call us on 0845 108 0505.
