NatWest international mortgage: Details and how to apply

NatWest is one of the UK's largest retail and commercial banks, and it serves millions of customers - including those in the US. One of the products that NatWest offers to its international clients is mortgage options to purchase property in the UK.

If you're a US citizen or resident looking to relocate to the UK, buy a vacation home, or invest in UK real estate, a NatWest international mortgage can be a good financing option.

Here's everything you need to know about NatWest international mortgages, how to determine whether you're eligible, and the steps you need to follow to apply.

We’ll also introduce Wise for international transfers. If you're living between the US and the UK, you can send high-speed, low-fee transfers to easily pay and get paid globally. Let's dive in!

What is an international mortgage?

An international mortgage allows you to borrow money to purchase property in a different country from where you currently live or hold citizenship.

For Americans interested in UK property, this means getting a loan from an international lender like NatWest while being based in the US.

NatWest international mortgages are designed for Americans and other non-UK residents who want to purchase property in the UK. You can get a mortgage for a home to use as your primary residence or an investment property to generate rental income.

For example, an American living in Boston who wants to purchase a flat in London for their business trips would need an international mortgage. Similarly, if you want to buy rental properties in the UK, you'd need international financing since you likely don't have a UK credit history.

Can you get an international mortgage from NatWest?

Yes, Americans can get a NatWest international mortgage for a UK property.

To qualify for a mortgage, you must:

• Be over the age of 18
• Be a resident in one of the approved countries, which includes the US¹

As long as you meet these basic requirements, you can apply for NatWest international mortgages in the UK.

NatWest offers 3 main types of international mortgages for Americans buying property abroad:¹

NatWest also offers both fixed-rate and tracker mortgages.

With a fixed-rate mortgage, your monthly payments stay the same for the duration of the fixed-rate period.

With a tracker mortgage, your interest rate follows the Bank of England base rate - which means potentially lower rates when market conditions are good.

At the same time, it's important to know that international mortgages can be quite hard to qualify for. You'll likely need to show a high and stable income so that NatWest doesn't consider you high-risk.

Benefits of NatWest international mortgage

A NatWest international mortgage can be a solid option for Americans who need financing in the UK.

Here are some of its main benefits.

• Specialized international service: Many UK banks are reluctant to provide mortgages to foreign nationals. NatWest's service is specifically designed for non-UK residents, including Americans

• Green mortgage option: If you purchase a UK property with an Energy Performance Certificate (EPC) rating of A or B, you may qualify for NatWest's reduced rate Green Mortgage¹

• High loan-to-value ratio: NatWest's loan-to-value ratios can be as high as 80%, which means that you could secure a property with a 20% down payment.¹ This is a pretty good deal for international mortgages

• Remortgage options: If you already own UK property with another lender, NatWest allows you to remortgage to potentially secure better rates or release equity from your property

NatWest international mortgage eligibility requirements

Not everyone is going to be eligible for a NatWest international mortgage, but US citizens and residents with a stable income have a good chance of qualifying.

💡 If you're applying for a buy-to-live mortgage you'll need to work with an accredited FCA Broker - NatWest doesn't accept direct applications for these products.¹

Of course, meeting these baseline requirements doesn't guarantee approval. Every application is unique, and NatWest's decision will be based on your specific financial situation and the property you're purchasing.

Buying property abroad? Send money the hassle-free way with Wise

Now that we covered some of the basics, the only question left is: how to send money to pay for your property overseas?

Wise offers you a quick, secure and transparent way to send money abroad. You get the mid-market exchange rate for your payments and see how much it’s charged for the transfer before sending the money from your bank.

With the Wise Account you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 9 different currencies.

Get started with Wise

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

How to apply for an international mortgage with NatWest

If you meet all of NatWest's eligibility requirements, you can begin the application process.

The specific steps largely depend on whether you're applying for a buy-to-let mortgage or a residential property mortgage.

• For buy-to-let mortgages, you can schedule an appointment directly with a NatWest mortgage arranger. They'll discuss your specific goals and offer you different mortgage options

• For buy-to-live mortgages, NatWest requires that all applications for residential mortgages be submitted through an FCA-regulated Mortgage Broker. So, your first step should be finding an approved broker¹

During your initial consultation with NatWest, the bank's team (and your broker, if applicable) will walk you through the mortgage process, including the documents you need to submit for approval.

What to consider when getting an international mortgage

Getting an international mortgage is an important financial decision, so make sure that you understand these important factors:

• Larger down payment requirements: NatWest typically requires international buyers to provide down payments of 20 to 40% of the property value. You can expect higher down payments (25 to 40%) with the buy-to-let mortgages¹

• Currency exchange rates: Since you'll be earning in USD but paying your mortgage in GBP, exchange rate fluctuations will impact how much you have to pay. If GBP goes up in value, you'll have to pay more of your USD

• International mortgage rates: Make sure to carefully review NatWest international mortgage rates to have a good idea of how much you'll have to pay. Fixed-rate options range between 5.4 to 5.9%, while base rate tracker mortgages start around 6.1 to 6.2%¹

• Broker requirement for residential mortgages: All buy-to-live mortgage applications must go through an FCA-regulated Mortgage Broker, which can add extra costs to the process¹

You'll also need to have a plan for transferring your down payment to the UK and making monthly payments without losing too much money in fees.

Bank transfers often come with high costs and unfavorable exchange rates, but a service like Wise allows you to send payments with low fees and no exchange rate markups.

A NatWest international mortgage can be a solid option for US citizens or residents who want to purchase property in the UK, whether for personal use or as an investment. This product is specifically designed to accommodate eligible overseas buyers, which increases your chances of approval.

The main advantage is being able to finance a property abroad in the first place - many banks in the UK are reluctant to offer loans to foreign nationals since they consider them to be high-risk.

That said, you'll need to figure out a way to transfer money to the UK without losing a fortune on fees. To send transfers to the UK from the US with low fees and no exchange rate markups when going from USD to GBP, use Wise.

Sources

1. NatWest International - International Mortgages
2. NatWest - Common questions about mortgages