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RBS mortgage review

Our RBS mortgage review combines customer feedback with expert deal analysis to reveal whether the lender is worth considering next time you apply for a mortgage.

In this article
RBS mortgage customer ratings What kinds of mortgages does RBS offer? Does RBS offer the best mortgage deals? Interest rates on RBS mortgages How much could I borrow from RBS?
Can I make overpayments? How can I contact RBS? RBS mortgage eligibility What RBS mortgage customers say

RBS mortgage customer ratings

Mortgages
RBS review
Which? Customer Score
21st out of 25 mortgage lenders
61%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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£1 for first month then £10.75/month unless cancelled

The table below shows how RBS performed in our latest mortgage satisfaction survey.

We gathered feedback from real RBS customers on everything to do with their mortgage, from the application process to value for money.

Customer rating for: Star rating
Customer service

2 out of 5

Application process -
Value for money

3 out of 5

Keeping you well informed

4 out of 5

Clarity of statements

4 out of 5

Transparency of charges

3 out of 5

Query and complaint handling

2 out of 5

Ability to overpay or underpay mortgage

3 out of 5

Online access

3 out of 5

 

Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 84 people told us they had their mortgage with RBS. Where no rating is given the sample size was too small.

What kinds of mortgages does RBS offer?

When we checked in September 2019, there were around 140 mortgages available from RBS.

Most of these were fixed-rate deals lasting two or five years, as well as a smaller number of two-year tracker deals.

    Does RBS offer interest-only mortgages?

    Yes, although you’ll need to have an income of at least £75,000 to be eligible.

    The most you can borrow with an interest-only mortgage from RBS is 75% of the property's value.

    Offset mortgages from RBS

    RBS also offers an ‘Offset Flexible Mortgage’ where you can link your loan to your RBS savings and current accounts.

    The amount in these accounts is then deducted from the mortgage balance that you pay interest on.

    Does RBS offer the best mortgage deals?

    Which? analysis has found that RBS offers fewer cheap mortgages than the average lender.

    In order to work this out, our experts analysed thousands of mortgages over a four-week period in August 2019. They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

    The average number of times a lender made it into a table was 15, while RBS featured twice. (Data source: Moneyfacts.)

     

    Interest rates on RBS mortgages

    In September 2019, the average interest rate on a two-year fixed-rate mortgage from RBS was 2.32%, below the industry average of 2.77%.

    The variable interest rate on RBS's offset mortgage was relatively high when we checked in September 2019, at 4.25%.

    How much could I borrow from RBS?

    Below we’ve outlined how much you could borrow from RBS, in relation to the percentage of the property’s value.

    Loan amount Maximum loan-to-value
    Up to £570,000 95% (if you're purchasing a property)
    Less than £550,000 90% (if you're remortgaging, or borrowing more)
    £550,001 - £1m 85%
    £1m+ 75%
    Buy-to-let 75% (or 65% for new-build properties)

    For new-build properties, the most you can borrow for a house is 85% of the property’s value, while for a flat it’s 75%.

    Can I make overpayments?

    If you’re paying the standard variable rate of interest on an RBS mortgage, you can make as many overpayments as you like, without any restrictions.

    If you’re on a fixed-rate or tracker mortgage deal, you might face an early repayment charge if you want to overpay more than 10% of your current mortgage balance in a year.

    How can I contact RBS?

    • New customers can call 0800 056 3220.
    • Existing customers can call 0800 056 0567.
    • Its website is rbs.co.uk.

    RBS mortgage eligibility

    RBS says that every mortgage application is reviewed by an individual, so each case is assessed on its merits.

    For example, if you’ve been bankrupt or had a property repossessed, this could affect whether RBS accepts your mortgage application. However, depending on how much time has passed since these events took place, as well as your other financial circumstances, you might still be able to borrow.

    95% mortgages

    RBS offers 95% mortgages of up to £570,000 to first-time buyers and home movers, as well as those buying a second home. However, they're not available if you're buying a new-build property.

    Leasehold properties

    If you’re applying for a mortgage on a leasehold property, there must be at least 30 years left on the lease at the end of the mortgage. Shorter leases may be considered if your property is in central London.

    Buy-to-let mortgages

    To be eligible for a buy-to-let mortgage from RBS, your total annual income must be at least £25,000. You’ll also need a deposit of at least 25% of the property’s value, or 35% for a new-build property.

    RBS can offer buy-to-let mortgages to customers who have up to 10 buy-to-let properties in their portfolio (including the property that you’re applying for a mortgage on).

    What RBS mortgage customers say

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