UK: NatWest extends offer period on new build loans

NatWest has extended the offer period by 6 months on its intermediary new build proposition, meaning customers will have a period of up to 12 months from when they receive their offer to finalise the new build process.

This 6-month increase means NatWest’s offer matches that of its competitors who have already begun offering buyers a year-long offer period.

"The application will then be approved subject to a valuation of the property along with a successful credit search."

Intermediaries will need to request this extension within the initial six-month offer period by following an extension template which includes providing documentation on the customer’s current financial circumstances. The application will then be approved subject to a valuation of the property along with a successful credit search.

The new changes came about in response to the fact complications with new build processes can result in customers needing longer than six months from agreeing with the purchase to obtaining the keys.

 

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