RBS Mortgage Calculator
Whether you’re remortgaging, moving home, thinking of buying your first home or seeing if you can fill the criteria to get a buy to let mortgage, the RBS mortgage calculator might be able to help you decide if a mortgage from the Royal Bank of Scotland is the right choice for you.
Take the first step in applying for an RBS Mortgage
An Agreement in Principle from RBS is the first step to getting a Royal Bank Of Scotland mortgage. It gives an indication of whether RBS will lend you the amount you need to borrow.
How Does It Work
- Online form - Takes 5 Minutes
- No impact on your credit score
- No obligation to take out a mortgage
Prefer to speak to an adviser? - Call Royal Bank of Scotland on Freephone 0800 096 7447
Lines are open: 8am-8pm Monday to Friday and 9am-4pm Saturday and Sunday (Calls may be recorded)
Track Your RBS Mortgage Application
Once you have applied for a RBS mortgage you can use their helpful mortgage tracker tool to track the progress of your applications.
Using a mortgage calculator
Using the RBS calculator you can find out two things, first by entering your income, outgoings and the value of the property you have been considering, you can also add additional applicants for joint mortgages. With the second RBS mortgage calculator you can enter the size of deposit you wish to put down and the value of the property you wish to buy, the calculator will return results that will allow you to review all of the different RBS mortgages available of that size, so you can see their different APRs and features.
It’s important to remember when using a mortgage calculator that they are only designed to be used for indicative purposes, if you apply for a specific mortgage the annual percentage rate the lender may offer you on it may vary from the one used by the mortgage calculator. This is because a bank may tailor the rate they are willing to offer you once they have fully reviewed your financial circumstances including checking the credit score of all parties applying for the mortgage.
Whether they are for large or relatively small sums mortgages are normally long term commitments therefore it is important to thoroughly shop around before hand to try and find the best plan for you. Different lenders may have different lending criteria or mortgage features; remember that the Royal Bank of Scotland is just one option of many.
If you do want to consider your different options you could use the mortgage calculator on this website, you just need to enter a few financial details and information about the value of the property you are considering buying and the calculator will generate a range of different potential mortgages from various lenders so you can compare and contrast different plans to see if you can decide what might be the best one for you.
If you want to find out more about you could also fill in our enquiry form on this website to receive a call back from one of our team.
Different types of mortgage repayments
Before you start searching for a mortgage you may find it helpful to decide which payment option you feel would suit your situation best:
Fixed Rate – With a Fixed Rate mortgage your interest payments are the same throughout the course of the deal, so you know how much you will be paying throughout it.
Tracker – Tracker Mortgages are linked to the Bank of England’s base interest rate. This means that if the Bank of England either raises or lowers its base rate the interest you pay on your mortgage will also change to reflect this.
Discount – Discount mortgages are similar to trackers but instead of your interest rate being reflective of the Base Rate it is affected by your lender’s specific Standard Variable Rate. The SVR is the rate many mortgages revert to once you move out of your introductory deal.
Offset – This type of mortgage works by tying your savings to your mortgage. This usually means that you stop earning any interest on your savings instead the interest is used to offset your mortgage interest repayments. Lenders will allow you to either pay less each month, or to treat the difference as an overpayment, thus paying off your loan earlier.
For independent mortgage advice on whether RBS mortgages are right for you call our mortgage team on 0117 313 7780 or complete our callback request form.