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What mortgage suits me?
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Understand more about your mortgage options
Mortgages come in all shapes and sizes. Whether you're buying for the first time, moving home, investing in property or making improvements, there's something for you.
With this type of mortgage the rate of interest you pay is normally the Bank of England base rate plus a set percentage. If the base rate rises or falls, so will your monthly mortgage payments. At the end of the tracker term you'll usually revert to the RBS Standard Variable Rate.
With this type of mortgage the rate of interest you pay is fixed for an agreed deal period. So you always know how much your mortgage payments will be during that period, even if interest rates go up or down. At the end of the fixed rate deal period you'll usually revert to the Standard Variable Rate.
Buy-to-let mortgages are for people who want to invest in property to rent out to tenants. To qualify, you'll need to satisfy your lender that the property you're buying will achieve enough rental income to cover the costs of running the property, including the mortgage. You'll usually need to have a deposit of at least 20% of the value of the property.
An offset mortgage can help you pay off your mortgage early, saving you interest in the process. It's for anyone who has savings, no matter how small. An offset mortgage pools your finances – including your current account, savings and mortgage – into one. You don't earn any interest on your savings but you pay less interest on your mortgage.
For example, if your mortgage is £100,000, you have savings of £10,000 and a typical current account balance of £1,500, you would only be charged mortgage interest on £88,500.
If you need additional money, you may be able to borrow more with your mortgage. You can borrow for home improvements or almost any other purpose.
RBS mortgage customers can borrow from as little as £1,000, up to 90% of the value of your home. You can spread the repayments over the remaining term of your mortgage or repay the additional borrowing earlier.