Remortgaging From Adam and Company

Why Do People Remortgage Away From Adam and Company?

Adam and Company clients typically value the bank's discreet, personal service, but there are practical reasons to consider remortgaging:

• NatWest Group overlap — Since Adam and Company is part of the NatWest Group, some clients find that they could access similar or better mortgage rates directly through NatWest or its other brands without the premium associated with the private banking wrapper.
• Rate competitiveness — Private bank mortgage rates are not always the most competitive in the market. The wider lending landscape includes building societies, challenger banks, and specialist providers who may offer sharper pricing for your circumstances.
• Evolving needs — If your banking needs have become more straightforward, perhaps because you have simplified your financial arrangements or moved to a different stage of life, you may no longer need or benefit from a private banking approach to your mortgage.
• SVR costs — Once your deal period ends, you will move onto the standard variable rate, which is typically much higher than the rates available on new products across the market.
• Geographic considerations — While Adam and Company has its roots in Scotland, clients across the UK may find that local building societies or other regional lenders offer both competitive rates and a personal service comparable to what Adam and Company provides.

Adam and Company Rates and Standard Variable Rate

Adam and Company determines its mortgage rates on a case-by-case basis, consistent with its private banking approach. Rates are not publicly listed and will depend on your individual circumstances, the property, and your overall relationship with the bank.

SVR considerations

When your fixed or discounted rate period expires, you will revert to the bank's standard variable rate. As part of the NatWest Group, the SVR may be aligned with or influenced by the group's broader pricing, but it will still almost certainly be higher than the best new deal rates available in the market.

Group comparisons

It is worth checking what NatWest itself offers for mortgages, as you may find that the mainstream brand provides sharper pricing for similar products. The private banking premium you pay through Adam and Company may not always be justified purely from a mortgage rate perspective.

Total cost analysis

When evaluating your options, look at the total cost of the mortgage over your chosen deal period, including the interest rate, arrangement fees, valuation costs, and any incentives such as cashback or free legal work. A slightly higher rate with lower fees can sometimes work out cheaper overall than a lower rate with significant upfront costs.

How to Remortgage Away From Adam and Company

Remortgaging from Adam and Company follows the same process as switching from any other lender:

• Gather your information — Confirm your deal expiry date, outstanding balance, current rate, and any early repayment charges by checking your mortgage documentation or contacting the bank.
• Define your priorities — Decide what you want from your next mortgage, whether that is the lowest rate, maximum flexibility, a long-term fix, or specific features like an offset facility.
• Compare the market — Use a broker or conduct your own research to find the most competitive options. Include NatWest's mainstream products in your comparison for a complete picture.
• Apply to your new lender — Submit your application with the required documentation and await their decision. They will conduct their own valuation, credit checks, and affordability assessment.
• Complete through a solicitor — A solicitor handles the legal transfer, redeeming your Adam and Company mortgage and registering the new lender's charge against your property.

Allow four to eight weeks for the process, beginning at least three to six months before your deal expires to ensure a seamless transition.

Things to Check Before Leaving Adam and Company

Review these factors before committing to a move:

Relationship benefits

Consider whether your Adam and Company mortgage is part of a broader private banking relationship that provides additional benefits, such as preferential rates on other products, access to exclusive investment opportunities, or dedicated support from a private banker. Moving your mortgage could affect these arrangements.

Early repayment charges

If you are still within your initial deal period, check the early repayment charges carefully. These can be significant on larger loans and may reduce the financial benefit of switching early.

Scottish property considerations

If your property is in Scotland, be aware that the Scottish property and conveyancing system differs from England and Wales. Ensure your new lender is comfortable lending in Scotland and that your solicitor is experienced in Scottish conveyancing.

NatWest Group alternatives

Before looking outside the group entirely, check what NatWest, Royal Bank of Scotland, and other group brands can offer. You may find a competitive product within the same group that allows for a simpler transfer process.

Wealth management integration

If your mortgage sits within a broader wealth management strategy devised by Adam and Company's advisers, discuss any potential implications of moving the mortgage with your wealth manager before making a decision.

Why a Mortgage Broker Helps When Leaving Adam and Company

Engaging a mortgage broker when remortgaging from Adam and Company offers several advantages:

Objective market comparison

A broker provides an impartial view of how your Adam and Company deal compares to the rest of the market. They can show you exactly how much you could save and which products best match your requirements.

Access beyond the NatWest Group

While you may naturally consider other NatWest Group brands, a broker will look beyond the group to identify competitive options from building societies, specialist lenders, and other private banks. This ensures you are not limiting your choices unnecessarily.

High net worth expertise

A broker experienced in serving high net worth clients will understand your needs, including complex income, larger loan sizes, and potentially non-standard property types. They can navigate these requirements efficiently and present your case to the most suitable lenders.

Time efficiency

Rather than researching and approaching multiple lenders yourself, a broker handles the entire process. This is especially valuable if you are accustomed to the concierge-style service of a private bank and want someone to manage the transition on your behalf.

Most specialist brokers offer a free initial discussion to assess your situation and provide an indication of potential savings.