NatWest has put its money where its mouth is by calling on homeowners to take on a remortgaging challenge.
The bank has changed the way in which people can remortgage, claiming to make the process quicker and easier.
As a result, it wants customers from other mortgage providers, such as Halifax, Abbey, Lloyds TSB and Barclays to switch to NatWest.
If NatWest fails to offer a mortgage deal that is an improvement on the existing discount, tracker or fixed deal, then NatWest will give customers £1,000.
Craig Donaldson, managing director of mortgages at NatWest, commented: "For the majority of us our monthly mortgage repayment is our biggest outgoing and so it pays to shop around."
NatWest's two-year fixed rate mortgages have a £499 product fee alongside interest of 5.19 per, with the alternative of 5.45 per cent interest without a legal or valuation fee.
Homeowners will be keeping a close eye on their mortgage deals in the coming weeks, with a Bank of England interest rate rise widely expected in May.
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