Personal Finances
Equity Release Loan
With a Royal Bank Equity Release Loan, we've made
it easy to tap in to the equity in your home.
Equity Release Loans are available to existing Royal Bank of Scotland Mortgage
customers and people who own their home outright, with no outstanding mortgage.
Features:
- You can borrow from £5,000 to £500,000*
- You can use the money for anything you want
- All our fixed rates are available for loans above £25,000
*subject to a maximum of 95% of the value of your home (or purchase price if lower)
Plus:
- 3 months free Mortgage Loanguard premiums
- No Maximum Advance Premium if you have a 10% deposit
- Choose how to repay - Capital Repayment, Endowment, Pension Plan or Individual Savings
Account
- Mortgage term can range from 3 years to retirement or age 70, whichever is earlier
Typical example: based on a £25,000 Equity Release Loan
repayable on a capital and interest basis, on a property valued at £50,000. There are 180
monthly repayments. See important information.
Mortgage Type |
% Loan to
value |
Interest Rate
% APR |
Monthly
Payment |
Monthly payment
at current Mortgage Rate |
Total amount
payable |
Fixed rate
expiry date |
Early
repayment charge |
| Variable Rate |
Up to 95% |
5.95%
6.8%
APR |
£210.29 |
N/A |
£39,507.82 |
N/A |
None |
| 2
Year Fixed |
Up to 75% |
5.39%
6.9% |
£202.81 |
£209.43 |
£39,481.00 |
01/09/2004 |
2%
until 1/09/03
1% until 1/09/04 |
| 75.01% - 95% |
5.59%
6.9%
APR |
£205.47 |
£209.74 |
£39,593.87 |
| 2
Year Fixed (with no early repayment charge) |
Up to 75% |
5.59%
6.9%
APR |
£205.47 |
£209.74 |
£39,593.87 |
1/09/2004 |
None |
| 75.01% - 95% |
5.79%
7.0%
APR |
£208.14 |
£210.05 |
£39,706.57 |
| 3
Year Fixed |
Up to 75% |
5.59%
6.9%
APR |
£205.47 |
£209.44 |
£39,502.39 |
01/09/2005 |
3%
until 1/09/03
2% until 1/09/04
1% until 1/09/05 |
| 75.01% - 95% |
5.89%
7.0%
APR |
£209.48 |
£210.15 |
£39,748.08 |
| 5
Year Fixed |
Up to 75% |
5.69%
6.9%
APR |
£206.80 |
£209.25 |
£39,463.83 |
01/09/2007 |
5%
until 1/09/03
4% until 1/09/04
3% until 1/09/05
2% until 1/09/06
1% until 1/09/07 |
| 75.01-95% |
5.99%
7.0%
APR |
£210.83 |
£210.44 |
£39,848.84 |
Fixed rate mortgages are subject to
availability of funds. We would advise that, where a fixed rate is chosen,
funds are booked as soon as possible. The maximum amount for a fixed rate
mortgage is normally £500,000, however, applications in excess of this
amount will be considered on an individual basis.
For further details contact a Customer Adviser in
one of our branches or FREEPHONE 0800 917 3025.
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