Your guide to NatWest for intermediaries

Are you a mortgage broker or financial adviser looking to streamline the mortgage process for your clients? If so, diving into what NatWest for intermediaries has to offer could be exactly what you need.

This specialised division of NatWest Bank, one of the UK's leading financial institutions, provides a diverse array of mortgage products. It covers everything from first home purchases to property investments and refinancing solutions.

NatWest for intermediaries is designed to enhance the services you provide, enabling you to offer expert advice and effective solutions with ease. Thanks to tools like detailed affordability calculators, comprehensive case tracking, and a robust broker portal, you'll find managing the mortgage process simpler and more transparent.

In addition, NatWest for intermediaries is known for its competitive commission structures and incentives, which could significantly boost your earning potential.

This guide aims to give you a clear insight into the benefits of working with NatWest Intermediary Solutions, especially on how it could fit into your business model.

NatWest for intermediaries products and services

NatWest Intermediary Solutions offers a range of products and services designed specifically for mortgage intermediaries, most of whom are on our top ten list of intermediaries.

Some mortgage plans at NatWest offer terms extending up to 40 years.

NatWest for intermediaries’ offerings include:

Residential Mortgages

Purchase Mortgages

These are designed for individuals buying a new home, whether they are first-time buyers or moving from one home to another. NatWest offers competitive rates and terms designed to meet the needs of a diverse range of buyers. The goal is to provide flexible options that can accommodate different financial situations and buying conditions.

Remortgages

NatWest provides remortgaging options for homeowners who wish to refinance their existing mortgages. This can be beneficial for those looking to take advantage of better interest rates, reduce monthly payments, or release equity from their property for other uses. The remortgage products are tailored to make the switching process as smooth as possible.

Buy to Let Mortgages

Purchase Mortgages

Aimed at investors who are purchasing property specifically to rent out. These mortgage products are designed to offer investors the financial flexibility needed to manage rental properties effectively. They often come with features that are tailored to the needs of landlords, such as interest-only payments and options for managing multiple properties under one mortgage.

Remortgages

These allow existing landlords to refinance their buy-to-let properties. Whether it's securing a lower interest rate, changing the terms of the mortgage, or consolidating debt, NatWest's remortgage options provide solutions that help optimise the financial management of rental properties.

Help to Buy Scheme Mortgages

This government-backed initiative is intended to make home buying more accessible to those with smaller deposits. NatWest supports this scheme by offering mortgages that require as little as a 5% deposit from the buyer, with the government providing an equity loan that covers up to 20% of the property's value (up to 40% in London), interest-free for the first five years.

In 2020, Mortgage Introducer spoke with the people from NatWest Intermediary Solutions to know more about the broker market:

The lending criteria at NatWest for intermediaries cover a comprehensive range of conditions to evaluate mortgage applications. Key areas include:

• applicant's employment and income stability
• property type and value
• credit history
• purpose of the loan

For instance, the criteria specify maximum Loan to Value ratios, acceptable income types, and conditions under which certain types of income or property are eligible. The criteria are detailed to ensure that all aspects of an applicant’s situation are considered to maintain responsible lending practices.

Supportive tools and resources for NatWest intermediaries

From dynamic mortgage calculators to comprehensive educational materials, NatWest equips its partners with everything needed to stay ahead in the competitive mortgage industry. Here are the key tools and resources available to NatWest intermediaries:

Mortgage calculators

The assessment process used by NatWest to determine the amount a borrower can responsibly borrow when applying for a mortgage through an intermediary can be done with a mortgage calculator. This involves evaluating the borrower's income, expenses, and other financial commitments to ensure that they can comfortably manage the mortgage payments.

Calculators can estimate monthly payments, compare different mortgage scenarios, and evaluate the impact of different interest rates and down payments.

Marketing materials

NatWest provides a range of materials that intermediaries can use to communicate the benefits of their mortgage products to potential clients. This includes brochures, flyers, and digital content that can be personalised for individual marketing efforts.

Educational resources

NatWest offers continuous education through:

• training sessions
• updates on legislation and market conditions
• insights into best practices in mortgage lending

This ensures that intermediaries are well-equipped to serve their clients effectively and stay informed about changes in the mortgage industry.

Training and support services for NatWest intermediaries

NatWest provides comprehensive training and support services for intermediaries, focusing on various aspects of their operations and client services.

These resources are structured to support the intermediary’s business needs from pre-application to post-application stages, enhancing their ability to provide informed and efficient services to their clients. Here are the key features of their support system:

Broker portal guidance

Intermediaries can access the Broker Portal through NatWest’s dedicated intermediary website. Once logged in, they can submit and track mortgage cases using an intuitive interface that guides them through each step of the mortgage application process. There's no need to call as updates are available online.

It also includes these features:

• AIP certificate for accepted applications
• improved case tracking
• streamlined document upload system​

Dedicated support teams

For specific mortgage types like new builds, NatWest has dedicated underwriting and support teams. These teams help manage applications effectively, liaising with valuers and assisting with valuation queries to ensure smooth transaction processes. They are committed to achieving quick turnarounds, such as a 28-day exchange deadline and, in some cases, even faster for priority cases​.

Training and development

NatWest ensures that intermediaries are well-equipped to handle various customer needs by providing access to a wide range of calculators, such as affordability calculators for different customer scenarios. They also keep intermediaries updated with the latest news, changes in policies, and regulatory requirements through their website and direct communications​.

Training resources are available online through the NatWest intermediary site. Intermediaries can also access webinars, downloadable guides, and updates on new regulations and policy changes directly through the portal.

Live and virtual assistance

Intermediaries have access to NatWest’s business development team for pre-application queries via phone or LiveTALK, ensuring they can get answers quickly before submitting applications. For post-application support, there is case tracking available online and additional support via a dedicated broker line​.

How to become a NatWest intermediary partner

To become a NatWest intermediary partner, you'll need to go through their registration process. Not just anyone can become a NatWest intermediary.

Eligibility requires being part of a firm or network that is recognised and authorised to conduct mortgage brokering activities. The intermediary must be properly vetted and verified by their firm or network as part of the registration process with NatWest. This ensures that all intermediaries meet certain professional standards and regulatory requirements necessary to offer mortgage advice and services.

Here are the steps:

• online registration: you'll need to fill out a form on the NatWest website
• verification: after you submit the form, an automatic email will be sent to your firm or network for verification
• internal checks: NatWest will conduct internal checks once your firm/network has verified you
• access granted: following these checks, you will receive an email with your login information and a temporary password

Internal checks are likely to include the following:

• credential verification: ensuring that the intermediary is authorised to operate as a mortgage broker or financial adviser
• regulatory compliance: verifying compliance with financial and professional regulations, including checks against any regulatory issues or sanctions that might impact the intermediary’s ability to conduct business.
• financial integrity: assessing the financial stability of the intermediary to ensure that they can sustainably manage client funds and information securely

Do allow up to 48 hours after your firm or network's verification to receive your login details. This process ensures that all intermediaries are properly vetted and qualified before they can start using NatWest’s platforms and tools for mortgage intermediation.

Compliance and regulatory framework

NatWest intermediaries operate within a strict regulatory framework, ensuring all dealings are conducted with the utmost integrity and security. This includes adherence to Financial Conduct Authority (FCA) standards, robust data protection protocols, and stringent compliance measures.

Here’s an overview of the key elements of this framework:

Regulatory authority

NatWest intermediaries must be authorised by the Financial Conduct Authority (FCA) either directly or as appointed representatives of firms that are directly authorised by the FCA to provide mortgage advice. This ensures that all intermediaries meet the necessary standards for providing financial advice and services in the UK.

Privacy and data protection

NatWest has a comprehensive privacy policy that outlines how personal data of intermediaries and their clients is collected, used, and protected. This includes data obtained through communications, registration platforms, and third-party sources.

The policy ensures compliance with data protection laws and includes provisions for the processing of personal data related to criminal convictions when necessary for legal compliance or security purposes.

Legal and compliance obligations

Intermediaries are required to adhere to various legal and compliance obligations including checks to prevent and detect crime, compliance with money laundering regulations, and adherence to financial sanctions laws.

NatWest for intermediaries’ policies also cover the processing of personal information for managing roles, ensuring transparency and accountability in their operations.

Communication security

The terms of business for NatWest Intermediaries Solutions outline the professional conduct and operational guidelines required when interacting with NatWest, ensuring clarity in all business transactions.

Monitoring internet communications, including email and web traffic, helps prevent fraud and other crimes, ensuring that the intermediaries' digital interactions are secure.

What’s new with NatWest for intermediaries

Staying ahead with the latest changes and enhancements in mortgage services is crucial for intermediaries. NatWest for intermediaries remains at the forefront, continually updating its offerings to align with market trends, economic conditions, and client needs.

These updates are part of NatWest's commitment to keeping its intermediary partners informed and competitive in a rapidly changing market. Recent developments include:

Rate changes

NatWest has been actively adjusting its mortgage rates. For example, there have been slight decreases in the rates for various loan-to-value (LTV) ratios, indicating a potentially more favorable borrowing environment. These adjustments also include changes in cashback offers, which could influence both new and existing customers considering remortgages or first-time purchases.

To find out how NatWest’s mortgage rates fare against other lenders, read and bookmark our interest rates database. This is updated weekly, giving you accurate and up-to-date information to help you stay ahead in the mortgage industry.

Product enhancements

Alongside rate adjustments, NatWest has introduced changes to cashback offerings and other incentives. For instance, increases in cashback for certain fixed-rate purchase products have been noted, which could attract more borrowers looking for added benefits during the mortgage process.

Buy to Let adjustments

Notably, there has been a significant change in the Buy to Let segment, with the removal of the minimum income requirement for applicants. This adjustment could open up the market to a broader range of investors, potentially increasing the volume of Buy to Let applications.

Economic insights

NatWest is also providing insights into broader economic conditions, recognising the impact of economic trends on the mortgage market. This includes commentary on how economic indicators and government incentives, such as Stamp Duty Land Tax incentives, affect housing transactions and mortgage applications.

Should you become a NatWest intermediary?

Deciding whether to partner with NatWest shouldn't be taken lightly. Choosing where to become a mortgage intermediary should be based on evaluating how NatWest's offerings compare to those of other banks with intermediary services.

Consider what best fits your business needs and provides the most value to your clients. Different banks may offer varied products, support, and tools, so it’s crucial to assess all options to find the most suitable partnership.

Is your focus on offering a variety of mortgage products, including residential, buy-to-let, and remortgaging options? If so, partnering with NatWest for intermediaries is the right move.

What do you think of NatWest’s services for intermediaries? Let us know in the comments.