Head Office Address:
250 Bishopsgate,
London,
England,
EC2M 4AA

NatWest Review

NatWest is a popular bank within the United Kingdom that offers a whole variety of different products such as:

• Banking
• Mortgages
• Home Insurance
• Life Insurance
• Contents Insurance
• Savings Accounts
• Loans
• Credit Cards
• Car Finance
• Investments

They are considered one of the top 4 biggest banks in the United Kingdom and have over 960 branches across the country along with 3,400 cash machines!

You can apply for any of  NatWest’s products either online or by visiting one of their branches.

They offer a variety of different medium to long term loans suitable for larger things such as home improvements cars and holidays.

NatWest do not offer short term payday loans, so if you are looking for a smaller loan with a fast turn around then this bank may not be for you.

How the company works:

If you wish to apply for a loan with NatWest then you can do this by either applying using their online application form, by telephone or by booking an appointment at one of their branches.

You must also have been a customer with the bank for a minimum of 3 months or held a credit card or mortgage with them for at least 6 months.

If you are a credit card or mortgage holder only and do not have a current account then you must apply either online or by telephone.

Once you have applied then you should receive your decision within minutes. If this is an unconditional decision and you are not required to submit any extra documents, you can expect to receive your loan by the next working day.

If you need to submit extra paperwork then it will take a couple of extra days before you will receive your loan payment.

Repayment method:

Repayment for your loan with NatWest is done by monthly direct debit on a day of your choosing. You will set this up and select a payment date during your application form.

Do I need a bank account?

You will need to hold a bank account to make your monthly repayments but you do not need to hold a bank account to apply for a loan with NatWest. If you are not a current account holder with them then you will need to be either a mortgage or credit card customer.

To be eligible to apply for a loan you must fit the following criteria:

Age

Customers will need to be a minimum of 18 years of age to be eligible to apply.

Address information

You must be a resident of the United Kingdom and also hold a UK address. During your application, you will be required to provide your address history for the previous 3 years. It is a good idea to have all of this to hand before you start your application process.

ID and Income

Information about your current income and outgoings will also be required. This will include things such as monthly grocery shopping bills, rent or mortgage payments, credit card payments and any other monthly bills you may be paying.

All of this information is required so that NatWest can fully asses your financial situation as a responsible lender.

They would never want to put any of their customers into any financial situation where they could have difficulty paying.

Penalties

If you miss any monthly payments on your NatWest loan then you may receive a late payments fee and a charge for the direct debit bouncing.

If you feel that you have entered a period of financial difficulty, Loanksi recommends that you contact them as soon as possible and discuss your options. You may be able to arrange a temporary alternative payment plan until you are back on track again.

Reviews

Unfortunately on Trust Pilot, NatWest does not have a great rating.  Out of 5 stars, they only scored 1.5 from their reviews. Only 9% of these reviews were rated as excellent! A massive 82% are listed as bad, which is one of the worst ‘bad’ score ratings we have seen.

Many of the customers say that the customer service, both in the bank and on the phone is awful and that they did not receive get a positive customer journey, in general. Some complain that errors had been made and not at all rectified

The few of the reviews rated as excellent are customers that have banked with NatWest for years and say that they have never received any problems with them.

However, as these reviews are about the bank as a whole, and cover all of their services, it does not mean that the loans service is bad.

In fact, there were no reviews at all on Trust Pilot about the loans they offer and how the service was.

One thing is though, unlike most companies, NatWest have not taken the time to reply to any of their customer’s reviews and offer a solution which does suggest that the customer service level isn’t as high as other companies.