Natwest Commercial Loan, They want it back!!! - NatWest Bank - Consumer Action Group

Hi i'm sorry to hear about your woes with Nat West - but I can assure you you're not alone. I had an equally tough time last year (during the biggest financial crisis ever which nearly toppled Natwest) and fell 6 weeks into arrears with my commercial loan.

As a result they passed my account to the SRM Specialised Relationship Management. They immediately pulled my Overdraft and wanted to more than double my interest rate.

Luckily my fortunes have improved and I have repaid all my loan/OD 4 months ahhead of the agreed schedule but the SRM manager is still on my case - constantly wanting "more information" and even rung me today for more income/outgoing forms to be completed.

Going back to your case as a lay person I would say as you (and I) have defaulted on the loan agreement by missing payments they could demand a return of the money!! I would be interested to know how you get on because I fear they may call my loan in too and I owe £200k.

Good luck.

Start planning ahead. If they recall you then you wont have time to do anything

If you have a property that you can finance or re finance then I would go down that route. If they let you off the hook and agree a plan then the minute you make a single late payment they will show no mercy. If you are detecting now that they may give you problems then theres a high chance they will. At this early stage you can try another bank

I hear what your saying but most lenders aren't lending and the interest rates are prohibitive. i'm just planning not to make another late payment. Talk about living life on the edge!! The good thing is with the low interest rates I'm making a serious dent in the loan each month. It's a living nightmare though - never again.

I think if you pay on time and pay more than needed then they may not have a problem. If you do miss a payment and even ring to tell them that you are having problems I think all it will do is give them a head start in getting the money back in. It may be an idea to put away 1-2 months payments if you can spare it or even put aside an amount weekly so that if it does come to a time that you dont have the money you can use your reserve fund to get you by a month or 2. Banks are lending but you need to have a good turnover. One of my customer is a frequent borrower but he also turns over alot so Its all about turnover now

That is good advice. I think you were right earlier when you said alternative funding should be considered but I just don't have the appetite or money to pay for the valuations/ arrangement fees etc and then on top the interest rateover base on the loan will no doubt be 3% higher than I am paying now. Better to sit tight, ensure the payments are made in a timely fashion and hope they don't call it in. Thanks for your advice - much appreciated.