Did you know you can boost your retirement income without equity release? NatWest offers powerful alternatives that might surprise you.

NatWest offers a range of financial products designed to support individuals planning for retirement, including alternatives to equity release.

Whether you’re looking to invest in a tax-efficient pension, explore remortgaging options, or grow your savings through a Stocks and Shares ISA, NatWest provides flexible and accessible solutions to help secure your financial future.

This article explores how NatWest’s retirement offerings can help you achieve your goals while avoiding the potential risks associated with equity release products.

COMMENT: TimeBank.org.uk is an independent third-party data provider, and the information shared here reflects their views alone, not necessarily those of NatWest. This article is for informational purposes only and should not be considered financial advice or a recommendation to engage with any products offered by NatWest.

Who Is NatWest and Why Consider Their Retirement Financial Products?

NatWest, a major UK-based bank, offers diverse retirement financial products that provide reliable solutions for managing and growing your retirement savings.

Overview of NatWest

NatWest, short for National Westminster Bank, is a major retail and commercial bank in the United Kingdom.

It was established in 1968 through the merger of National Provincial Bank and Westminster Bank.¹

NatWest is part of the NatWest Group, which was formerly known as The Royal Bank of Scotland Group.

The bank serves millions across the UK, offering tailored solutions to meet diverse financial needs, including those of retirees.

How Does NatWest Support Retirement Planning?

NatWest provides a variety of tools and services to assist in retirement planning. 

These include a quick guide to retirement planning², a budget calculator³, and a pension primer⁴.

Does NatWest Offer Equity Release?

NatWest does not currently offer equity release products, such as lifetime mortgages or home reversion plans.

However, they do provide guidance on how equity release works and how you can release equity from your home through other means, such as remortgaging.⁵

What Retirement Products Does NatWest Offer?

NatWest offers several retirement products to help you plan for your future.

These include:

• the NatWest Invest Pension
• Stocks and Shares ISA
• Remortgaging.

NatWest Invest Pension

The NatWest Invest Pension is a flexible retirement savings product designed to help individuals build a tailored pension pot.

Offering a range of investment options, this pension allows users to choose portfolios based on their risk appetite and financial goals.

The product benefits from tax relief on contributions (subject to limits) and provides a straightforward online platform for managing investments, making it suitable for those seeking an accessible, long-term pension solution.

The plan is managed by experienced investment managers at Coutts and Co.⁶

Stocks and Shares ISA

NatWest’s Stocks and Shares ISA is a tax-efficient investment account that allows you to invest up to £20,000 per tax year without paying Income Tax or Capital Gains Tax on the returns.

You can choose from five ready-made funds, ranging from defensive to adventurous, based on your risk appetite.

The funds are managed by expert investment managers at Coutts.⁷

Remortgaging

NatWest offers remortgaging options for homeowners looking to switch their current mortgage to a new deal.

Remortgaging with NatWest can help you save money on your monthly repayments, release equity from your property, or secure a better interest rate.

The process involves getting an Agreement in Principle, comparing mortgage rates, and applying for a new mortgage deal.

NatWest provides guidance and support throughout the remortgaging process to ensure a smooth transition.⁸

Who Can Apply for NatWest Retirement Products, and How Do Applications Work?

Individuals planning for retirement can apply for NatWest’s products; applications are available online, through mobile banking, or at branches, with guidance from financial advisors.

Are You Eligible for NatWest’s Retirement Products?

You may be eligible for NatWest’s retirement products if you meet specific age and residency requirements.

For instance, to invest in a NatWest pension, you must be over 18 and under 75, and you have to be a UK resident for tax purposes.

Your eligibility can also depend on your financial history and current investment goals, ensuring a tailored approach to retirement planning.

Speak to a NatWest advisor to make sure you are eligible.

What Steps Are Involved in Applying for NatWest’s Products?

Applying for NatWest’s retirement products involves several steps: starting with a consultation to assess your financial goals, followed by choosing the appropriate product that suits your needs. 

The process is finalised with your application submission, which the bank will review for approval based on their criteria.

In short:

• NatWest Invest Pension: You can set up your pension online by choosing the amount you want to contribute each month and selecting your investment options. You can also transfer existing pensions to your NatWest Invest Pension.
• Remortgaging: To remortgage with NatWest, you need to get an Agreement in Principle, which gives you an indication of how much you can borrow. You can then apply online or contact NatWest for advice.
• NatWest Stocks and Shares ISA: Choose an investment amount up to the annual limit of £20,000 and select from five ready-made funds tailored to varying risk levels, from defensive to adventurous. To apply, visit the NatWest website’s Stocks and Shares ISA page and complete the online form with your personal details, including your National Insurance number, email address, and mobile number.

What Documents and Information Do You Need?

When applying for retirement products at NatWest, you’ll need to provide personal identification, proof of income, and evidence of your financial history. 

You may also need your National Insurance number.

These documents help in assessing your financial situation and determining the most suitable retirement planning strategy for you.

What Are the Costs and Fees Associated With NatWest’s Retirement Products?

The costs and fees associated with NatWest’s retirement products may include management fees, annual charges, and potential penalties for early withdrawal. 

A breakdown of the costs and fees may help you weigh up your options.

NatWest Invest Pension Costs

Costs associated with the NatWest Invest Pension include standard investment account fees.⁹

These are:

• Platform Fee: 0.15% of your investment, which is 15p for every £100.
• Fund Management Fee: 0.40% of your investment, which is 40p for every £100.
• Transaction Costs: Based on past costs, the highest costs for any of the available funds will be 0.07% of the value of the fund each year.
• Total Fees: 0.55% of your investment or less.

Stocks and Shares ISA Costs

NatWest’s Stocks and Shares ISA Costs include platform and management fees.¹⁰

These costs are:

• Platform Fee: 0.15% of your investment.
• Fund Management Fee: 0.40% of your investment.
• Transaction Costs: Similar to the Invest Pension, the highest costs for any of the available funds will be 0.07% of the value of the fund each year.
• Total Fees: 0.55% of your investment or less.

Remortgaging Costs

The cost of remortgaging will depend greatly on the size of your mortgage and the value of your property.¹¹

Costs include:

• Legal Fees: Typically around £300.
• Valuation Fees: Typically range between £300 and £500.
• Admin Fees: Typically range from £50 to £300.
• Early Repayment Charges: Ranges from 1% to 5% of your remaining mortgage balance.
• Broker Fees: Typically ranges between £300 to £600.
• Arrangement Fees: Also known as product fees, these charges cover the lender’s management costs

It’s important to discuss these fees with your advisor to ensure transparency and that you are choosing a cost-effective option for your retirement savings.

What Are NatWest Client Reviews Like?

NatWest client reviews can be found online.

NatWest’s review scores*:

• 1,5 out of 5 stars on Trustpilot (from 6 900 reviews).¹²
• 2,95 out of 5 stars on Smart Money People (from 19 reviews).¹³

Keep in mind that these scores do not necessarily represent the full picture and only take into account the views of clients who have expressed their opinions on these online platforms.

*These aggregates were correct at 15/01/2025.

Contact NatWest

You can contact NatWest in a number of ways.

These include:

• using the bank’s virtual assistant, Cora, on the app or website.¹⁴
• by phone on 03457 888 444.
• by post at Customer Relations Manager, 1st Floor, 2 St Philip’s Place, Birmingham, B3 2RB.

If you’d like to explore their help topics, take a look at NatWest’s support page.¹⁵

Common Questions

Conclusion

NatWest’s alternatives to equity release offer flexible and accessible options for clients seeking to unlock financial support without the long-term commitments and risks associated with equity release.

By carefully evaluating these solutions, you can tailor your financial strategy to meet your needs while preserving future financial stability.

NatWest isn’t an option when it comes to equity release, but if you would like to explore this avenue, speak to a qualified equity release advisor.