Choosing between Santander and NatWest for your mortgage? Both are major UK lenders with competitive products. This guide compares their rates, eligibility criteria, fees, and who each lender suits best.
- Loan-to-value bands (95/90/85/80/75%) drive pricing — a small extra deposit can cross a cheaper band
- Start remortgage shopping up to 6 months before your fix ends — you can lock now and switch if rates fall
- Whole-of-market brokers see deals comparison sites never list, especially for non-standard income
- Get a soft-search decision in principle before house-hunting — it costs nothing and reveals problems early
What Actually Moves the Needle
Product fees deserve as much attention as rates. A £1,499 arrangement fee on a lower rate only pays off above a certain loan size — roughly £150,000+ for typical gaps. Run both totals over the fixed period before deciding.
Timing your remortgage matters more than most borrowers realise. Most lenders let you secure a new rate up to 6 months before your current deal ends — if rates rise you're protected, and many lenders let you switch to a cheaper deal before it starts.
Nothing moves your rate more than loan-to-value. Lenders price in bands — 95%, 90%, 85%, 80%, 75% — and crossing a band boundary can cut your rate by 0.3–0.6 percentage points. Before applying, check whether a small top-up to your deposit crosses a threshold: on a £200,000 loan that's thousands over a fix.
Santander vs NatWest: Head-to-Head
| Lender | 2-Year Fix | 5-Year Fix | Max LTV | Fees |
|---|---|---|---|---|
| Santander | 4.41% (2yr) | 4.21% (5yr) | Up to 95% | No fee options |
| NatWest | 4.48% (2yr) | 4.18% (5yr) | Up to 90% | Fee-free available |
Who Should Choose Santander?
- Borrowers who want a well-known high-street lender
- Those looking for 95% LTV mortgages
- Existing Santander current account holders (may get preferential rates)
- First-time buyers using government schemes
Who Should Choose NatWest?
- Those with a larger deposit (20%+) seeking competitive rates
- Borrowers who value an established reputation
- Remortgage customers looking for fee-free products
- Buy-to-let investors (check current BTL availability)
Our Verdict
The best lender between Santander and NatWest depends entirely on your circumstances: deposit size, property type, income structure, and whether you value rate or fee savings. The only way to know which is truly cheaper is to compare your specific mortgage using a whole-of-market broker who can access both.
Frequently Asked Questions
Should I choose a 2-year or 5-year fix?
There is no universal answer. A 5-year fix buys certainty; a 2-year fix costs less if rates fall. Check the total cost including fees, not just the headline rate.
Can I get a mortgage with bad credit?
Usually yes, but the pool of lenders shrinks. Specialist lenders accept defaults and CCJs older than 12 months, typically at higher rates. Rebuilding your score for 6–12 months first often saves thousands.
What happens when my fixed rate ends?
You move to the lender's standard variable rate, usually 2–3 percentage points higher. Start remortgage shopping 6 months before the end date.
How long does a mortgage offer last?
Typically 3 to 6 months depending on the lender. New-build purchases often get extended validity because completion dates slip.
How much deposit do I need for Santander vs NatWest Mortgage — Which is Best in 2026??
Most lenders ask for at least 5–10% of the property price. A bigger deposit unlocks noticeably better rates — the biggest pricing jumps happen at 90%, 85% and 75% loan-to-value.
Do I need a mortgage broker?
You don't have to use one, but a whole-of-market broker sees deals that never appear on comparison sites, and knows which underwriters accept your income type. For non-standard income it usually pays for itself.
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