Apply for Equity Release from the Royal Bank of Scotland.
Fixed rates for the life of the release at 2.56% with RBS Equity Release. No hidden fees, just a standard home valuation similar to the requirements of a traditional mortgage.
- No monthly payments on some schemes
- Some plans allow you to pay just interest (RIO mortgage)
- Release a cash lump sum or get a monthly payment into your account
- Use the money for anything you like
- You don’t need to be an existing RBS or Natwest customer
How much money can I release?
You can achieve 70% of your property’s valuation. For example, if your house is valued at £220,000 you can release £154,000. It’s not a problem to get smaller amounts.
How much cash can I borrow?
You can get 65% of your home’s valuation. As an example, if your home is worth £350000 you can get £227500.
Some of the most common pensioner loan products are Lloyds Bank interest only lifetime mortgages, Barclays Bank later life mortgages, Halifax interest only lifetime mortgages, Legal & General mortgages for over 60s and Nationwide BS mortgages for pensioners.
The lump sum payment can go to your family members to reduce death duties.
Popular loan to value percentages of TSB pensioner mortgages over 65, HSBC later life interest only mortgages over 70, Natwest interest only mortgages for people over 60, L&G equity release schemes for over 55’s, RBS mortgages for people over 55 and Nationwide BS pensioner mortgages over 55 are 45%, 55% and 65%.
Some of the most common loan to value percentages of LVE mortgages over 70s, More2Life equity release schemes for over 55’s, OneFamily mortgages for over 55s, Yorkshire Bank mortgages over 65, Metro Bank later life mortgages for over 70s and SunLife later life mortgages for over 70s are 45%, 55% and 65%.
Finding help when you need a quick remortgage – or RBS Equity Release
It is very regular to discover people looking for low credit remortgage lenders, adverse credit remortgage or bad credit remortgages however home loan lenders like Family Building Society are keen to see proof of affordability in the form of payslips, pension statements or sa302 documents.
Paperwork to show income for equity release customers:
Secured loan lenders such as Norton Finance, Central Trust or Clearly Loans often accept paperwork to prove income with
- accountants certificate
Some of the most common loan to value percentages of Virgin Money equity release products for people over 60, Zurich mortgages for over 70s, Leeds Building Society interest only mortgages for people over 60, Skipton Building Society over 60 lifetime mortgages no fees, Newcastle Building Society interest only mortgages for over 60s near London and National Counties Building Society pensioner mortgages over 70s are 45%, 55% and 65%.
Types of impaired credit when you have no cash reserve
Lenders such as Norton Finance, United Trust Bank or Norton Finance can usually loan to people with
- default notices
- late instalments
Difficult to mortgage home types can include properties currently undergoing substantial alterations, extensions or repairs, properties where letting arrangement where the tenancy agreement is not appropriate, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, properties with unregistered titles subject to these being registered as part of the legal process and properties with owned solar panels.
Sourcing an equity release loan without early repayment charges to exploit increasing property prices
It’s sometimes a lower cost to get a pensioner secured loan than a re-mortgage. The things to consider are how will a trade body help you move home if you need to for family reasons
Hard to finance property types can include eco-houses and modern methods of construction, properties with spray foam insulation applied to the underside of the roof, properties with minimum floor area of 30 square metres, studio flats outside the M25 and basement or lower ground floor flats with level access to private or communal garden space. With a drawdown lifetime mortgage, the loan amount will be worked out by your financial adviser and will depend on the equity from your home.
Age criteria for Low credit score home purchase loans:
- MBS Lending where you borrow money on your main residence with no monthly repayments and you never owe more than your house is worth
- The Mortgage Lender
- Hanley Economic Building Society
- Virgin Money PLC
Duration of payback cycle with Bluestone Mortgages
- Nine years
- 35 years
Compare the Royal Bank of Scotland equity release plan with other lenders like Halifax, Aviva or Hodge. A home reversion company or other equity release provider will have you find equity release advisers with a firm reference number.
To get a tax free cash release from your home in one lump sum you have to look at the equity release cost and if the release is the right thing for you to do. If you take the money it may affect your entitlement to government benefits and the amount you owe will rise over time. How much equity you release could be impacted by your property type.
Challenging to finance home variants include properties built or converted into dwellings within the last 10 years, properties with flying or creeping freehold which comprises 15% or less of the total floor area, use of the land and any outbuildings for a small amount of personal commercial use., properties that have solar farms or a large number of wind turbines on the land and properties with mobile phone masts which are within influencing distance of the house.
You could release money from your property value with home reversion plans for home improvements but these lump sums are much lower than the market value and may not be wise retirement planning.
- lender fees
- valuation fee
- application fees
Finding help when you want to learn about types of equity release mortgage products and lifetime mortgage products with a low interest rate
- financial consultant
- independent advisor
It’s common to discover individuals looking for a bad credit mortgage broker, best bad credit mortgage lenders or mortgage for people with bad credit however secured loan lenders like Landbay are keen to see proof of monthly income in the form of sa302 documents, wage slips or DWP letter.
Tough to mortgage property variants include rent charges properties with a high estate rent charge, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), some properties with sitting tenants or regulated tenancies, corrugated iron construction and concrete panel houses.
Loan to value percentages for equity release mortgages
It is common to encounter individuals seeking out a loan to value percentages (LTV) of 60%, 55% or even as much as 95% however, it’s hard to get 90%. A home reversion plan is another completely different option and is overseen by the equity release council. Be careful not to jeopardise your means tested benefits – get good financial advice first and consult your loved ones.
Getting help when you need equity release advice
It is common to discover individuals looking for poor credit remortgage lenders, subprime remortgage companies or remortgage options for bad credit however home loan lenders like Optimum are keen to see paperwork to show income in the form of pay stubs, p60s or payslips.
Fees for a general type of equity release with a no negative equity guarantee
- early repayment fee
- valuation fee
- product fee
Lenders terms and rates for BTL Buy to let including for subprime credit
- Capped rate mortgages Chorley Building Society equity release deals using the value of your home
- Discounted rate mortgages Halifax for releasing equity using the value of your property
- Discounted rate mortgages Leeds Building Society for a tax free lump sum
Many of the most appealing retirement loan offerings include TSB remortgages for people over 50 years old, HSBC lifetime mortgages, Post Office mortgages for 60 plus pensioners, Legal and General interest only pensioner mortgages for over 70s and Nationwide Building Society over 60 lifetime mortgages.
The lender will want to know if the property is a Freehold terraced house or a Leasehold house and if the occupier is a Private Tenant.
RBS Equity Release is one of the lowest rate of products available.
The Royal Bank of Scotland plc, registered in Scotland no. SC083026. Registered office: 36 St Andrew Square, Edinburgh, EH2 2YB is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Bank is entered in the FCA’s Register, and its Register number is 114724.
The Bank’s registered VAT number is GB 243852752. Credit facilities other than regulated mortgages are not regulated by the Financial Conduct Authority.
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Does RBS do Lifetime Mortgages?
Yes, RBS lifetime mortgages are 1.56% APR. The key is the help of the equity release council and the financial ombudsman service when you die or move into long term care.
Does RBS offer Equity Release Under 55?
Yes, RBS Equity Release Under 55 is 1.56% MER. Their interest rates are very low.
Does RBS offer a Retirement Mortgage product?
Yes, RBS Retirement Mortgages are 1.56% APRC. A debt secured against your home could mess up your state benefits or means tested benefit payments. Interest repayments are low and there are other equity release options an equity release adviser could explain to you.
What do I really need to know?
Taking out an equity release deal could affect your families inheritance and it’s easy to find out how much – this is part of your equity release work.
You should get in touch with Ravenwood if you think equity release is a way for you to get the cash you need in your retirement.