Can i overpay my natwest loan

When repaying your existing loan early, you'll pay 58 days interest 28 days if loan term 12 months or less. If the remaining term of the existing loan is less than 58 days or 28 days you will pay interest on the remaining number of days to close the loan early.

If you've missed a payment or are worried about missing a future payment, please get in touch so we can help. Find out how we can support you and how to get in touch. We can let you know the rate on your existing NatWest loan by email or text. Follow the link below, fill in your details and we'll be in touch with your loan interest rate within 3 working days. Request your loan interest rate. Find out how to make extra loan payments, change your payment date and request your existing loan agreement or final settlement amount.

Personal Loans. Frequently asked questions. Representative 3. Other loan amounts are available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.

On this page. Before you apply. Help with your application. What happens once I've applied. Help for existing loan customers. What to know about loan application. Who can apply for a NatWest personal loan? Find out more about our personal loans. What can I use a loan for? A loan can be used for many purposes, for example: Buying a car Debt consolidation Home improvements Funding a wedding There are some things a personal loan can't be used for. These include: Buying or putting down a deposit on a property or land Household bills, rent or mortgage payments Car tax Business purposes Payments in arrears Tax avoidance arrangements Court or solicitors' fees Gambling Buying shares or other investment funds Find out more about our personal loans.

When would I receive my money? How much could I borrow? Is a loan the best option for me? What is a soft search? Can I complete my loan application through Facebook Messenger?

Will getting a quote on Facebook Messenger impact my credit score? Help with loan application. What can I include as "income" when completing the online application form for a loan?

Your income should be combination of all of your earnings. This could include: Salary after tax Pension Disability Living Allowance You can also include: Court-agreed child maintenance Long-term town, housing, or shift allowances from your employer Child Tax Credit Working Tax Credit if it's not already included in net salary Under 'Other monthly income' you can include child benefit, any other state benefits and any other net after tax regular income you receive.

What are the differences if I'm self employed? To do this you will need to provide the below: Last 2 years finalised accounts Where the latest accounts are more than 12 months old, then confirmation of performance, in the intervening period should be obtained from an independent source e.

If you are a contractor you will also need to provide: Evidence of a history of employment over the past year Evidence that a contract for further work is in place When you complete your loan application form, the income figure you provide must match that on your Tax Return Form, SA or detailed in your finalised accounts.

If you are not on our Standard Variable Rate which has no restrictions on the amount you can overpay , there may be a maximum amount you can overpay each year without incurring an Early Repayment Charge. For more information please refer to your most recent mortgage offer or contact us on the number at the bottom of this page.

To illustrate savings, we have made the following assumptions:. The calculator is for illustrative purposes only. It does not provide a precise calculation of the time or interest you could save, but is intended to give you information and guidance about the potential savings. Please note the calculator does not factor in any charges for early repayments of the total mortgage balance and is based on a capital repayment mortgage.

This overpayment calculator does not include all of the information that you need to select or compare mortgages. Please request a Mortgage Illustration before you choose a mortgage. Reduce Your Monthly Payment - Lump sum payment is required. Overpayments exceeded Current Balance. Sorry we are unable to calculate your savings.

Please call us for more information. Jump to Accessibility Jump to Content. Mortgage overpayment calculator Our simple calculator will show you whether you could repay your mortgage faster, or reduce the amount you pay each month, by making either regular monthly overpayments or a larger lump sum overpayment.

What is a regular monthly overpayment? This is an additional payment made on top of your usual monthly payment This overpayment is flexible and you can choose to make it, or not make it, at any time you want. However, you must still continue to make your normal mortgage payment in full each month. A monthly overpayment will reduce the amount you owe us, which could help you to pay less each month. What is a lump sum overpayment? We recommend you contact our lending team or visit a branch along with your Debit Card, Pin if one has been issued and proof of ID if you would like to discuss the impact of the overpayment before you make it.

If you don't have a Debit card relating to your loan account, please bring in an active Debit card on any account you hold with us. You can set up a new payee to make additional payments into your loan. You may be asked to use your card-reader when setting up a new payee. You can order your card-reader from within your Online Banking service.

If you wish to settle your loan early, please contact our lending team.