RBS and NatWest have today been fined by The Financial Conduct Authority (the FCA) for failings in their advised mortgage process between 1 June 2011 and 31 March 2013.

In response to the FCA findings, at the end of November 2012, RBS and NatWest completely overhauled their mortgage sales process, re-trained all their mortgage advisers and accredited them on a new sales process. 

The FCA stated in their notice that there is no evidence of widespread detriment to customers. To reassure customers, RBS and NatWest are writing to customers who received mortgage advice during this period to invite them to raise any concerns about the advice they received. If a problem is found with the advice customers were given during this period, RBS and NatWest will take every step to put that right.

Ross McEwan, RBS and NatWest Chief Executive, said:

“Taking out a mortgage is one of the biggest moments in our lives, and our customers have every right to expect the very best service when making this decision. It is clear that in the past the bank just didn’t get this right, this was unacceptable and should never have happened.

"We have worked hard to put things right. When I joined the bank we completely overhauled our processes, and took all our mortgage advisers off the front line for an extensive period of time to get the training required. As a result we are now helping more customers than ever before to buy their new home, providing them with the very best support and advice when taking out their mortgage.

"Today’s notice shows that we still have challenges to face, but we are determined to take the steps needed to earn back our customers’ trust."


Hear from Lloyd Cochrane, Head of Mortgages for RBS and NatWest, on what we're doing to make things right for our customers.

Further help is available for affected mortgage customers and other customers with concerns about this announcement:

We have set up a dedicated team to help you. If you received mortgage advice from us between 1 June 2011 and 31 March 2013 and are concerned then please contact us on  0800 678 1924 to discuss your individual circumstances. This phone number will get you straight through.

Even if you received advice outside these dates and are worried about the recent announcement.

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