RBS Equity Release: What to Know in 2024

RBS does not directly offer equity release products but can refer customers to trusted partners who provide lifetime mortgages, ensuring clients have access to plans that allow them to unlock the equity in their homes. This partnership approach ensures a wide range of options for RBS customers.
  • Last Updated: 17 May 2024
  • Fact Checked Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui
What Are the Features of RBS Equity Release? Or Can It Offer a Better Alternative? Here Is Everything You Need to Know.
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Key Takeaways
  • RBS does not offer equity release but instead crafts mortgage solutions for retirees, including standard and retirement interest-only mortgages, which allow you to leverage your home’s value without ongoing monthly payments.
  • RBS provides financial advice and support for retirees seeking mortgage solutions to navigate their options and choose the most suitable product, but, as with any other product or service, retirees should still compare RBS’s offerings with other providers to find the best financial fit.
  • Examining the terms, interest rates, and fees of RBS’s financial solutions is crucial before committing.

Have you been banking with the Royal Bank of Scotland (RBS) since you can remember? 

Are you ready to jump onto the equity release train and are wondering whether RBS can help you do it? 

With many retirees turning to equity release, you have every reason to be curious about this means of accessing cash from your home. 

The question is, can RBS help you do it?

In This Article, You Will Discover:

    We have spent endless hours gathering the latest brand information with multiple expert consultations and a detailed review of leading brands in the industry.

    Therefore:

    Who Offers the Lowest Rates in 2024?

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    • Who offers the LOWEST rates available on the market.
    • Who offers the HIGHEST release amount.
    • If you qualify for equity release.
    RBS Home Equity Plan

    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor 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.

    Who Is RBS and What Is Their Role in Scotland’s Equity Release Market?

    RBS, standing for Royal Bank of Scotland, plays a significant role in Scotland’s financial sector by providing a broad array of banking services, although it does not directly offer equity release products.

    Known for its long history, RBS has established a strong presence in the financial sector, and unique for its Scottish heritage, it has expanded its influence, serving millions across the UK and beyond.

    Its influence extends through advising and offering alternative financial solutions for those exploring equity release options.

    Their commitment to financial solutions, including for seniors, marks them as a significant player in the banking world.

    What Tools and Resources Does RBS Provide for Customers Looking for Financial Services?

    RBS provides customers seeking financial services with tools and resources such as online banking, financial planning advice, loan calculators, and investment guidance to manage and grow their finances effectively.

    Does RBS Have an Equity Release Calculator?

    No, RBS does not have an equity release calculator.

    If you’re looking for this, why not use our calculator below to see approximately how much equity you could release from your home?

    How Was RBS’s Information Reviewed and Analysed?

    In reviewing RBS’ information, we looked into its history, the plans it offers, and its rates and fees.

    NOTE: This article is an unaffiliated, independent, third-party review of RBS.

    What Are Customers’ Experiences and Feedback With RBS?

    Customers typically report satisfaction with RBS’s professional advice and customer service, though experiences can vary depending on individual circumstances.

    What Do Customers Say About RBS?

    What Are Common Complaints About RBS?

    If you are dissatisfied with your experience and want to file a complaint, the easiest way to do so is to contact them directly through their website.

    They are concerned about their client’s needs and will refer you to the appropriate department.

    Alternatively, you can submit a review on a review site like Trustpilot or Feefo, and they will swiftly contact you to assist.

    How Does RBS Compare in Financial Products, Interest Rates, and Fees to Other Scottish Banks?

    Customers’ experiences and feedback with RBS vary, often highlighting their convenient banking services, customer support quality, and the ease of online and mobile banking platforms.

    How Does RBS Compare to Other Scottish Banks’ Offerings?

    RBS prides itself on offering competitive interest rates and flexible repayment options that cater to a wide range of financial situations.

    When compared to other Scottish banks, RBS stands out for its personalised service and the ability to tailor financial products to meet individual needs.

    This commitment to customer satisfaction ensures that you’re getting a product that is not only competitive but also specifically suited to your financial goals.

    What Are the Current Interest Rates for RBS Financial Services?

    The current interest rates for RBS financial services can vary across their product range, including savings, mortgages, and loans, reflecting market conditions and central bank policies.

    The type of scheme you select will affect the interest rates offered by RBS.

    If you are specifically interested in equity release, then depending on your situation, equity release interest rates can range from 5.25% to 6.30%* (AER).

    *While we regularly review our rates, these may have changed since our last update.

    What Fees Can You Expect With RBS?

    With RBS, you can expect fees related to account management, transactions, overdrafts, and specific financial products, detailed in their terms and conditions.

    What Must You Know Before Choosing RBS for Your Financial Needs?

    Before choosing RBS for your financial needs, it’s important to understand their product offerings, fee structures, customer service ratings, and how they align with your financial goals.

    What Types of Financial Services Does RBS Offer?

    RBS offers a range of financial services, including banking accounts, loans, mortgages, insurance, and investment options, catering to both personal and business needs.

    • Banking accounts: Offered to individuals and businesses for managing daily finances, including current accounts, savings accounts, and international banking options, with various features like online banking access and overdraft facilities.
    • Loans: Personal loans are available for various purposes, such as home improvements, debt consolidation, or major purchases, with fixed interest rates and repayment terms.
    • Mortgages: RBS provides a variety of mortgage products for first-time buyers, existing homeowners looking to remortgage, and property investors, featuring competitive rates and terms.
    • Insurance: Insurance products cover a range of needs from home and life insurance to car and travel insurance, offering protection against unforeseen events.
    • Investment options: Investment services include options for savings in stocks, bonds, and mutual funds, alongside advice for portfolio management to help customers achieve their long-term financial goals.
    • Business banking: Tailored services for businesses of all sizes, including business accounts, loans, and credit options, as well as merchant services and corporate finance advice to support growth and operational needs.

    What Are the FCA Details for RBS?

    Who Regulates RBS?

    • Financial Conduct Authority (FCA)1
    • Prudential Regulation Authority (PRA)2

    What Are the Registration Numbers for RBS?

    • FCA Ref Number: 114724
    • Companies House Number: SC083026

    Where to Find RBS FCA and Companies House Information?

    How to Contact RBS for Inquiries?

    • +44 345 724 2424
    • info@rbs.co.uk
    • 36, St. Andrew Square, Edinburgh, Midlothian, EH2 2YB.

    What Recent Updates Have Been Made to RBS Products?

    RBS continuously reviews its products to ensure they meet the evolving needs of its customers, and regularly reviews and updates its product range to reflect changing market conditions, customer needs, and regulatory requirements.

    Recently, they’ve introduced lower interest rates and more flexible repayment options, making it easier for homeowners to manage their loans according to their financial situations.

    For the most accurate and recent updates, it’s best to visit RBS’s official website or contact their customer service directly.

    Frequently Asked Questions About RBS

    What Are RBS' Alternatives to Equity Release?

    Does RBS Participate in the Equity Release Council?

    Who Currently Owns RBS?

    Are You Able to Find Career Vacancies at RBS?

    What Equity Release Products Does RBS Offer?

    How Safe Is Choosing RBS for Financial Needs?

    Concluding Thoughts on RBS Options

    If you are considering RBS as a banking or lending provider, we hope you have found this review helpful.

    RBS is one of the largest banks in the UK and also has a huge global presence.

    Although RBS does not offer equity release, it may have an alternative worth considering.

    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.

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