New overpayment option for NatWest mortgages

A new annual ten per cent overpayment option for all NatWest mortgages has been launched as part of the company's "new look" mortgage range.

Every year, NatWest mortgage customers will now be able to overpay by up to ten per cent of their mortgage balance while still avoiding an Early Repayment Charge.

Customers can choose from one lump sum or several smaller payments.

NatWest hopes the new scheme will enable its customers, both new and existing, to be more flexible about their mortgages.

Customers will also be able to make the best use of any additional unforeseen money they receive such as bonuses at work.

Charles Haresnape, director of mortgage sales for NatWest, said: "This move further underlines NatWest's commitment to offering attractive rates and features that prove popular with many customers.

"The overpayment option is popular with many people as it allows them the flexibility to accommodate changing circumstances."

NatWest's "new look" mortgage range also includes a limited edition two-year discount remortgage deal at 4.89 per cent variable until August 31st 2007.