
RBS announces rebrand after continued mortgage success
February 22, 2020 by Mark
Lenders
The Royal Bank of Scotland has announced that it is set to scrap this name in favour of a rebrand that will see it known as NatWest, as its mortgage products hit new levels of success.
NatWest and the Royal Bank of Scotland are both owned by NatWest Holdings, which is supported by taxpayers in the UK, and the primary reason that has been given for the change is that a far greater number of customers throughout the country are using the NatWest branches. The decision comes as the company has confirmed that its gross mortgage lending for last year rose by £3.1 billion.
The annual profit for the bank was £4.2 billion, which marks an improvement on the £3.5 billion reported for 2018, with the boost in the numbers of mortgage loans signed off during the year one of the contributing factors in this. However, RBS has also stated that the level of competition that exists in the mortgage sector had an effect on its net interest margin, which fell by 10 basis points compared to the end of 2018.
According to Mortgage Solutions, Alison Rose, its chief executive, told shareholders that low economic growth and interest rates were the reason for this, but added:
“Consumer confidence on the other hand continues to be supported by a relatively strong UK employment market and we are seeing good volumes in our mortgage business as a result.”
The healthy state of the mortgage market is good news for anyone with CeMAP mortgage advisor training.
Written by
Mark
You may also interested in:

Advisors express high levels of satisfaction with lenders
Mortgage advisors in the UK have expressed their highest levels of satisfaction with lenders in five years, according to a new survey that has just been published.
New no-deposit loan introduced by April Mortgages
April Mortgages has announced the introduction of a new no-deposit mortgage product designed to help borrowers offset rising UK house prices.