Key Takeaways
- RBS doesn’t offer equity release
- Consider alternative providers like Legal & General or Aviva.
- Explore lifetime mortgages or home reversion plans with reputable equity release specialists.
- Consult independent financial advisors for personalised guidance.
- Review RBS’s other financial products such as mortgages or savings accounts.
Could an RBS equity release alternative be the best option for you?
You may have recently embarked on an equity release journey and realised that it is difficult to choose the best company for equity release with all the choices available.
Or is it?
Discover more:
At SovereignBoss, our research team has spent countless hours reviewing equity release information and putting it together in an easy-to-use format.
Does RBS offer the ideal equity release alternative for you and your family?
NOTE: SovereignBoss is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of SovereignBoss only and may not reflect the views or opinions of RBS. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by RBS.
What Is Equity Release and Lifetime Mortgage?
Equity release is a financial option for people aged 55 or over, enabling them to access money tied up in their property without selling it.
The loan, plus any interest, is typically repaid when the home is eventually sold.
Learn More: What is Equity Release in [SEO_DATE_YR]?
Who Is RBS?
The Royal Bank of Scotland (RBS) is a financial institution that operates as part of NatWest Group.
Does RBS Have an Equity Release Calculator?
No, RBS does not have an equity release calculator.
If you are looking for an equity release calculator, simply use the one below for an approximation.
Why You Can Consider RBS
You can consider RBS if you are looking to release equity from your home by remortgaging.
Contact your financial adviser to find out which of RBS’ mortgage options could be right for you.
What Are the Advantages and Disadvantages of Using RBS?
An advantage of RBS is that it offers home remortgages, while a disadvantage is that it does not offer equity release.
More information:
Pros of RBS
Here are pros to consider:
- It is authorised and regulated in the UK by the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA).
- It offers various mortgage options to it’s customers.
Cons of RBS
Here are cons to consider:
- It does not offer equity release, so if that is what you need, RBS is not a viable option.
- It does not have good customer reviews online, on sites such as ReviewCentre and Trustpilot.
RBS Customer Reviews
It is always a good idea to view customer reviews, before deciding on a provider.
What RBS customers have to say:
- UK.TrustPilot.com reviews of RBS
- Customer reviews of RBS on ReviewCentre.com
- RBS reviewed on ChooseWisely.co.uk
How Did We Review the Information on RBS?
We reviewed RBS based on the following:
- Reputation and History – How many years they have been in business, customer reviews, and industry rewards received.
- Financial Strength – Ensuring it is going strong and has adequate funds to meet long-term commitments.
- Product Range – We favour companies offering a variety of equity release schemes with greater product flexibility.
- Interest Rates and Fees – We review competitive rates compared to industry averages and they must be fully transparent about rates and fees without hidden costs.
- Customer Service and Support – When and how it is available, response times, and available online educational resources. As well as online tools, like a calculator.
- Code of Conduct and Compliance – We only consider companies that adhere to recognised industry standards and codes.
- Industry Insights and Peer Reviews – We care about a company’s industry-wide reputation.
- Innovation and Technology – Is there a streamlined, digital application process?
- Client Testimonials – Success stories and the complaints resolution process.
This is an unaffiliated, independent review of RBS.
RBS Complaints
If you are dissatisfied with RBS and want to make a complaint, the best place to do so would be on it’s website.
RBS is concerned about it’s clients and will direct you to the appropriate department.
An alternative option would be to provide an assessment on a review site like Trustpilot or Feefo.
Equity Release Interest Rates and Schemes Compared
Are you looking for a specific equity release scheme?
Interest rates currently range from 5.20% to 6.30%*.
If you like to view the most current rates, they are available here.
*While we regularly review our rates, these may have changed since our last update.
Have a look at all the equity release schemes available on the market.
What Are RBS’ Fees?
RBS’ fees may include a £75 valuation administration fee and a £102 valuation fee if you are applying for a mortgage.1
Some RBS mortgages do not have valuation fees attached.
Contact your advisor to find out more.
Learn More About RBS
The Royal Bank of Scotland is a prominent commercial bank and operates as a NatWest Group brand.
The bank provides services to 3.3mln clients and has the distinction of having offered the UK’s first house purchase loan in 1972.2
RBS was rescued by the UK government during the financial crisis of 2008, and the government still owns just under half of NatWest Group’s shares*.
*As of 28/03/2022.
Regulatory Details
Regulators
Registration Numbers
- FCA Reg Number: 114724
- Companies House Number: SC083026
FCA and Companies House Link
- FCA Link: FCA Link
- Companies House Link: Companies House Link
RBS Contact Number and Address
- +44 345 724 2424
- info@rbs.co.uk
- 36, St Andrew Square, Edinburgh, Midlothian EH2 2YB.
Common Questions
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In Conclusion
While RBS may not offer equity release, they do have remortgage solutions that could be what you are looking for.
Whichever route you decide to take, it is always a good idea to discuss it with an independent financial advisor.
The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.