Can I pay more to my mortgage before I do a rate change because I want a better deal?

Can I pay more to my mortgage before I do a rate change because I want a better deal?

Yes - Making an overpayment could result in a better deal by reducing the LTV (loan to value) of your mortgage to a lower bracket. You just need to make your overpayment online at least 1 day before an appointment with one of our Mortgage Advisers. If you're using our online self service platform 'Manage your Mortgage' to switch to a new deal, you can continue as soon as you've received our email confirming your payment has been applied to your mortgage.

To use our self service platform 'Manage your Mortgage' to make a payment, look in the RBS app or Digital Banking. If you haven't used them yet, here's some guidance (opens in a new window) on how to access them. It doesn't matter whether you have other RBS accounts or just a mortgage.

If an app isn't for you, you can also use Manage Your Mortgage (opens in a new window), where you can just see your mortgage account.

You can use the online service to get a personalised quote for your new deal, and self serve to choose the mortgage yourself, without any advice or assistance from us. You should only use this service if you are confident you are able to choose the right mortgage for your circumstances. From the main menu select 'view mortgage deals'.

Please note: Our new deals may be subject to you having a minimum loan amount available to switch.


Fixed rate and Tracker mortgages (excluding Lifetime Tracker)

If you are currently on a Fixed rate or Tracker deal you can usually overpay up to 20% of your remaining balance per annum. If you overpay more than 20% of your outstanding balance in any one year, it could result in an early repayment charge. If you make the payment using 'Manage your Mortgage', all the information about your allowance and any applicable charges will be clearly shown before you commit to a lump sum overpayment.


Standard Variable rate mortgages

If you currently have a Standard Variable rate mortgage (or Lifetime Tracker mortgage) there is no limit to how much you can overpay. You can use 'Manage your Mortgage' to make a lump sum overpayment which will show there are no limits or charges.


Other useful information

To check your current term, as well as how long you have left on any deal, simply log in to 'Manage your Mortgage'. If you’re thinking of making an overpayment then use our overpayment calculator in 'Manage your Mortgage' to find out how it could affect your mortgage in the long term.

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