NatWest Equity Release: What to Know in 2024

Natwest offers various banking services, but does not directly offer equity release products. However, it may provide advice or referrals for customers interested in equity release.
  • Last Updated: 13 Jun 2024
  • Fact Checked Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui
Does NatWest Offer Equity Release in 2024? Find Out What Services It Offers and if It Can Help You Get Extra Funds in Retirement. Read On...
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Key Takeaways
  • NatWest skips the equity release and lifetime mortgage game but has got you covered with mortgages, savings, and insurance instead.
  • Even without equity release, NatWest can offer valuable financial guidance, including personal banking solutions, wealth management, and retirement planning advice—offerings that serve as potential components of a broader financial strategy.
  • Eyeing equity release specifically? Check out some big-name providers, such as Legal & General or Aviva, and chat with a financial advisor to nail down your best equity release strategy.

If you are moving into your retirement years, you may be considering equity release, but can NatWest help you with an equity release plan?

Although NatWest is a regulated and secure financial services provider, it no longer provides equity release services.

In This Article, You Will Discover:

    Our team has carefully examined various equity release providers to better understand each, and their market offering. 

    We strive to provide accurate and relevant information to better guide your financial decisions.

    What NatWest has to offer:

    Who Offers the Lowest Rates in 2024?

    Discover the Lowest Rates & Save

    Request a FREE call back & discover:

    • Who offers the LOWEST rates available on the market.
    • Who offers the HIGHEST release amount.
    • If you qualify for equity release.

    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor only and may not reflect the views or opinions of NatWest. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by NatWest.

    Does NatWest Offer Equity Release and Who Can Benefit?

    While NatWest no longer offers equity release services, it does provide a range of other financial services, including a remortgaging option, which might still cater to your needs.

    Who Is NatWest?

    NatWest is a financial service provider that operates in the UK and Ireland.

    It was founded in the late 1960s after the merger of National Provincial Bank and Westminister Bank. 1

    It now offers various financial services and products to individuals and businesses.

    What Does ‘Releasing Home Equity’ Mean?

    Equity release allows seniors to turn their home equity into a cash resource, suitable for those over 55.

    It transforms property value into spendable funds, without selling or releasing home equity upfront.

    The loan’s repayment is postponed until the home’s eventual sale, often after the owner’s life changes, like passing away or entering a care facility.

    This postponement is a hallmark of equity release.

    Savvy homeowners often shop around to discover the most favourable equity release deals available in the market.

    Does NatWest Offer an Equity Release Calculator?

    No, NatWest does not have an equity release calculator; however, it does have an equity calculator which gives an estimate of the equity in your home. 8

    The estimate is based on factors such as the value of your home, as well as any outstanding mortgage amount or loans secured against it.

    Why not use our easy equity release calculator for an approximation of how much equity you can release?

    Why Consider NatWest for Your Financial Needs?

    Although NatWest no longer offers equity release services, its trusted reputation, competitive rates, and personalized advice make it a leading choice for various financial needs.

    Why Should You Consider NatWest for Financial Solutions?

    NatWest’s standing as a top financial institution, coupled with its regulation by the FCA and PRA, provides assurance and credibility for individuals seeking reliable financial services beyond equity release.2

    More information:

    • It is easy to apply for the financial services or products it offers online and it’s app is easy to download.
    • It has a Buy Now Pay Later product offering.3
    • You can remortgage your bond to NatWest and possibly get a better deal.
    • It was awarded the ‘Best Mortgage Provider 2020’ at the British Bank Awards.  4

    What Services Does NatWest Offer?

    NatWest offers personal, business, and corporate banking services.

    It also offers the following:

    • Business banking.
    • Personal banking.
    • Investment options.
    • Financial planning.
    • International trade services for corporates.
    • Premier banking.

    Apart from banking services and products, NatWest is also permitted to offer other services.

    These services relate to insurance, investments, consumer credit, pensions, mortgages, and home finance.

    What Are the Pros and Cons of NatWest Equity Release?

    The advantages of NatWest include its regulation by the FCA and PRA, ensuring safety and reliability. However, it’s important to note that while NatWest doesn’t offer an equity release product, it provides a range of other financial products and services to meet various needs.

    Advantages of Choosing NatWest

    The pros of NatWest include that it has an easy-to-use app.

    Here are more pros to consider:

    • It is authorised and regulated in the UK by the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA), ensuring the safety and fairness of financial services and products offered to customers. 8
    • The app makes it easy to manage and facilitate your account and dealings with NatWest.

    Disadvantages of Choosing NatWest

    The cons of NatWest include that it is not an equity release provider.

    More information:

    • It is not an equity release provider.
    • Repayments are required on the standard and remortgage options that NatWest offers.

    Comparing NatWest With Other Equity Release Providers

    NatWest stands out for its customer-focused equity release schemes, comparing favourably with top industry competitors.

    How Does NatWest Compare to Other Top Equity Release Companies?

    NatWest distinguishes itself with competitive interest rates and a customer-centric approach.

    Unlike certain providers, NatWest goes beyond by offering personalized advice through its team of experts, ensuring that your financial plan is tailored precisely to your needs.

    Their suite of financial solutions is designed with flexibility in mind, allowing you to choose repayment options that suit your preferences and circumstances.

    What Criteria Should You Use to Choose the Best Equity Release Company?

    When choosing an equity release company, focus on interest rates, loan flexibility, and customer support.

    A good provider offers competitive rates, various repayment options, and access to knowledgeable advisors.

    Ensure they’re registered with the Equity Release Council, guaranteeing adherence to strict standards of conduct and product safety.

    Does NatWest Provide Equity Release and Lifetime Mortgages?

    No, NatWest does not offer equity release in the form of a lifetime mortgage or a home reversion plan.

    It offers a remortgaging option that may provide a suitable way to release equity from your home and receive a more favourable interest rate.

    What Are the Interest Rates for NatWest’s Mortgage Products?

    NatWest’s standard mortgage interest rates are between 5.25% to 6.30% AER*. 5

    The rate you could qualify for will depend on your specific set of circumstances.

    In general, equity release interest rates vary from 5.25% to 6.30% AER* and are slightly higher than standard mortgage rates.

    *While we regularly review our rates, these may have changed since our last update.

    What Fees Are Associated With NatWest Mortgage Products?

    NatWest’s fees for it’s standard mortgages typically include arrangement fees and valuation fees.

    More information on NatWest’s mortgage fees.

    • Valuation fees.
    • Additional survey fees if applicable.
    • Solicitor’s costs.6
    • Home insurance.
    • Stamp duty.
    • Closing fees.

    Equity release fees can range from £1,500 to £3,000.7

    Evaluating NatWest Financial Services: Reviews, Safety, and Regulatory Compliance

    Positive customer reviews and strict regulatory adherence underscore NatWest’s reliability and safety in its financial services offerings.

    Customer Reviews of NatWest Financial Services

    NatWest’s customer reviews and ratings on Trustpilot are pretty low at 1.9 out of 5. 

    Some customers have expressed dissatisfaction with the customer service.

    Others have had nothing but good things to say about the convenience provided by the NatWest app. 

    Common Complaints About NatWest

    NatWest complaints can be lodged directly through the NatWest website, in person, in writing, or by telephone. 9

    NatWest has a live WebChat option online, should you require an immediate resolution.

    How to complain:

    NatWest has a 24-hour phone line that can be used for complaints. 0800 917 0526.

    Alternatively, you can write a letter for delivery to:

    NatWest Mortgage Centre, PO Box 123, Greenock, PA15 1EF.

    You can also approach one of the consultants at a NatWest branch for an in-person resolution. 

    Is NatWest Safe for Financial Services ?

    Yes, NatWest is renowned for its commitment to providing secure financial solutions. Although they no longer provide equity release products, NatWest offers alternative options such as remortgaging or additional borrowing to help you meet your financial objectives.

    When considering releasing equity from your home, it’s crucial to approach the decision with thoughtful deliberation, ensuring it aligns with your long-term financial plans.

    NatWest’s Regulatory Details With the FCA

    FCA Address for NatWest

    250, Bishopsgate, London, EC2M 4AA, United Kingdom.

    NatWest Trading Name

    • Ulster Bank
    • NatWest Premier
    • Payit
    • Mettle
    • Tyl
    • Mentor
    • National Westminster Bank Plc

    Services Permitted by FCA for NatWest

    • Banking
    • Insurance
    • Mortgages and home finance
    • Consumer credit
    • Payment services and e-money
    • Pensions
    • Investments

    NatWest’s Regulatory Authorities

    • Prudential Regulation Authority (PRA)10
    • Financial Conduct Authority (FCA)

    NatWest’s FCA Registration Numbers

    FCA Reg Number: 121878

    Links to NatWest’s FCA and Companies House Details

    How to Engage With NatWest for Financial Inquiries

    Engaging with NatWest for financial inquiries is simple and convenient, as they offer multiple channels for detailed consultations tailored to your specific needs..

    How to Contact NatWest for Financial Inquiries

    NatWest’s contact number is +44 (0) 3457 888 444 and it’s registered address is:

    250, Bishopsgate, London, England, EC2M 4AA.

    How Was NatWest’s Equity Release Information Reviewed?

    We reviewed the information on NatWest by doing a thorough search of all it’s facts, including all the products and services it offers, and then compiled it into this article for you to consider.

    Even though NatWest does not offer equity release, it is a viable option to look into if you want to remortgage your property.

    NOTE: This article is an unaffiliated, independent, third-party, review of NatWest.

    Frequently Asked Questions About NatWest Equity Release

    NatWest addresses common queries, providing clear, concise answers to help customers understand equity release options.

    Is NatWest Accredited by the Equity Release Council?

    Who Owns NatWest?

    Where to Find Job Opportunities at NatWest?

    Does NatWest Offer Equity Release Services?

    How Safe Is NatWest for Equity Release Services?

    In Conclusion

    NatWest can be a viable option for remortgaging your home and possibly getting a better deal. 

    You can also explore some of the other services that NatWest offers. 

    It is authorised and regulated in the UK by the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA), meaning that it is a reputable and safe financial provider. 

    Although NatWest no longer offers equity release, if you’re considering them as a potential provider for alternative financial solutions, it’s advisable to consult with your financial adviser.

    The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.

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