The Royal Bank of Scotland Group was once one of the largest banks in the UK, but over the past year a lot has changed. They took over NatWest a few years back, and many thought that the bank could do no wrong, but how times have changed.

Let us hope that Natwest do the right thing by their customers and pass on today’s rate cut. Other lenders such as Lloyds TSB has already stated that they will pass on the savings to their borrowers who are on a SVR (Standard Variable Rate).Opportunity Knocks film Devil in a Blue Dress download

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Royal Bank of Scotland (RBS) and subsidiary NatWest have launched new fixed rate mortgage deals on both 2 year and 3 year terms.

You will need a 75 percent Loan-to-Value (LTV) to qualify for a two year fixed rate deal of 4.85 percent, a reduction of 0.15 percent. This deal comes with a £999 administration fee.

If you have a more sizable deposit of 40 percent (60 percent LTV) then you could take advantage of RBS/NatWest rate of 4.59 percent for the two year fixed deal, a reduction of 0.4 percent. This deal comes with a £799 administration fee.

Both Royal Bank of Scotland and NatWest are offering a new three year fixed rate deal of 4.79 percent.

Source: introducertoday

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Royal Bank of Scotland (RBS) and subsidiary NatWest have cut its Standard Variable Rate (SVR) by 0.75 percent to 4.44 percent from 5.19 percent, the changes will take effect from January 1 2009.

RBS reduced their SVR after last week’s base interest rate cut of 1 percent by the Bank of England Monetary Policy Committee.

If you have an existing Tracker mortgage with Royal Bank of Scotland and NatWest that is pegged to the Bank of England interest rate then you will benefit from the full 1 percent cut after RBS announced they would pass on the full rate cut late Friday.

If you hold a NatWest or RBS Offset mortgage then you will see a reduction of 0.75 percent taking your rate down to 4.20 percent. This will be effective from December 31.

If you hold a one account with NatWest you will benefit from a cut of 1 percent, with rates starting at 4.10 percent, this will be effective from December 31.

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If you are looking to calculate your mortgage costs ahead of the possible Bank of England rate cut tomorrow. We have listed several website where you can find a mortgage calculator so you can fill in all your relevant details and then the mortgage calculator will let you know what your new monthly repayments will be.

NatWest, alliance & Leicester, Halifax, Abbey and Bank of Scotland all have a mortgage calculator on their main website. If the Bank of England reduced the rate as expected, many banks have said they will pass on the full rate cut to existing customers on tracker or variable rates by reducing their standard variable rate (SVR), Lloyds TSB have said they will pass the full rate cut on.

All you have to do is put the details into the mortgage repayment calculator, it will ask you for the property value, how much deposit or equity you have, how long you wish the mortgage term and the interest rate you will be paying, then just tap in if you wish for it to be an interest only mortgage or repayment and the mortgage calculator will then show you your monthly mortgage repayment costs.

Royal Bank of Scotland (RBS) subsidiary NatWest is preparing to refund customers overdraft fees if it loses the test case, according to an internal bank document that’s shows how banks are preparing in the event the case is lost.

The NatWest document points out that the cost could run into millions as the group accepts that they may have to refund past charges.

Several other banks are waiting along with RBS NatWest for the outcome of the case, and if the Office of Fair Trading (OFT) decides if the overdraft charges are unfair

Many NatWest customers can expect refunds according to the leaked bank document if the bank does lose the case.

The banks paper also notes that all customers that are due refunds will be calculated as accurately as they can and that the group are preparing systems and processes to pro-actively refund charges to their customers.

Source: BBC

Royal Bank of Scotland (RBS) and NatWest have reduced rates on a new line of fixed-rate mortgage products.

NatWest who is owned by Royal Bank of Scotland new range of products are offered to new customers looking to purchase a home with a Loan-to-value (LTV) of 60 percent to 75 percent, or 35 to 40 percent deposit of the property value, this basically knock’s most first time buyers out of the market unless they have the huge deposit required to put down.

The fixed-rate deal is available from both RBS and NatWest for two year and five year products, on offer is a two-year fixed rate mortgage deal with a 60 percent LTV, hold’s an arrangement fee of £799 with a rate cut of 0.75 percent lowering the interest rate to 4.99 percent.

If you would prefer to take the fixed rate deal out for a longer term, the five-year fixed with a 75 percent LTV, will cost you £999 for the arrangement fee with the interest rate being cut by 0.65 percent to 5.09 percent.

Some experts suggest its worth looking into your mortgage deal, if you are on a high rate deal and your redemption penalties are not too high, it may be worth exiting the current deal and moving into one of the newer lower rates. It’s always advisable to seek professional advice.

Source: mortgage.org

Royal Bank of Scotland (RBS), NatWest and Capital One are just a few big banks who have scrapped the zero percent on balance transfer deals for credit card holders wishing to take advantage of the interest free periods.

MINT also joined the three big banks who have now completely withdrawn their 0 percent balance transfer deals.

According to Moneyfacts big names like Sky, Sainsbury’s Finance, Halifax and Abbey have all reduced the time scale for consumers to pay no interest on their purchases.

Analysts warn consumers that the interest free periods of their credit cards will rapidly come a thing of the past, already you will need to look hard for better deals elsewhere, however the deals lessening each day and soon you will be forced to pay up – or be left with no choice but to pay the sky high APR.

The news comes as Credit Card firms tighten up their lending as a result of alarming research by Abbey that revealed the average person’s disposable income has fallen 30 percent over three years in Britain.

Source: moneynews

Royal Bank of Scotland (RBS) and NatWest have announced cuts in their mortgage rates on their Offset Flexible Mortgage product by 0.5 percent the report comes a day after the Bank of England cut the base interest rate by half a percent.

The Bank of England base rate change will take effect from November 1, RBS and NatWest’s rates changes will shortly follow on the November 3.

The new cut mortgage rate will apply to both existing and new customers at NatWest and RBS according to the banks. Mortgage holders at both Barclays and the Woolwich will also reap the benefits of a 0.5 percent rate cut.

Head of mortgages at Woolwich, Andy Gray said “The base rate cut is a welcome move for millions set against the background of a slowing housing market.” He then went on to say “the move to reduce mortgage payments is good news and will instill confidence, helping customers with their finances”.
Not all banks have yet announced their mortgage rate cuts, or indeed if they will be cutting their rates. Northern Rock who was nationalized earlier this year has also not yet said it they will make changes to their mortgage rates.

Source: moneynews

Jane Archer and partner Chris Cutting decided that they needed a bit of extra money to purchase new premises for their car repair business, so the best way to get some cash was to release some collateral from their home.

They got in a valuer from Natwest to value their home which is situated on a cliff edge at Happisburgh, Norfolk, they were once 1,300ft from the sea, but due to erosion they are now just 200ft from the sea, which is why the property has such a low value.

The couple are now seeking compensation from the Government, they say that they are to blame for the erosion as they have cutback on funds to offer better sea defences.

However; the couple are not the only homeowners affected by this, at least 20 other cliff top homes in Happisburgh have already tumbled into the sea. Dozens of villagers have met with environment minister Phil Woolas, they have pleaded with him to try and help them before their homes also falls into the sea.

It is thought that it would cost the Government millions of pounds to replace the village’s 50-year-old wooden groynes; however the Government has refused to part with the cash.

The council have tried to do their bit by placing 5,000 tonnes of rocks on the beach, but that has had little effect.

Jane Archer and partner Chris Cutting had purchased their home in 1987 for £20,000, they now believed that from the sales of other homes in the area, theirs would be worth £80,000.

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