NatWest Mortgage Challenge offered to customers

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NatWest Mortgage Challenge offered to customers

Mortgage owners who are nearing the end of their current deals have been given the option to take the Natwest Mortgage Challenge.

This offer promises £1,000 to those who partake if the mortgage lender cannot lower their current repayment rate.

Customers' rates will be compared to the new 4.45 per cent two-year discount being offered by NatWest.

Borrowers signed up with the company's major competitors Halifax, Abbey, Lloyds TSB and Cheltenham & Gloucester are being invited to participate in the challenge.

Head of NatWest mortgages Guy Aldwinckle said: "For most people, their monthly mortgage repayment is their biggest outgoing and so it pays to shop around."

The bank also announced an extended product range which includes a 5.29 per cent two-year discount on remortgages and a one-year 3.79 per cent discount.

In order to qualify for the £1,000 payment offered by the NatWest Mortgage Challenge customers must provide written proof of their mortgage payments.

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