RBS Offset Mortgages

Fixed: The interest rate is fixed for a certain period – usually 1 to 5 years.
Tracker: The interest rate rises and falls with the Bank of England base rate.
Standard: The interest rate rises and falls with the provider’s standard interest rate (SVR).
Discount: The interest rate rises and falls with the provider’s standard variable rate but is set at a lower discounted rate for certain period.
Buy to Let: For landlords purchasing a property for letting.

The introductory rate of interest that you will pay for a certain period of time depending on the mortgage type and term.

The length of time that the initial interest rate applies to the mortgage.

The interest rate that your mortgage will revert to after any introductory rates have finished.

This is the mortgage’s Annual Percentage Rate: the interest rate that you will be charged on your mortgage including all charges such as arrangement fees (also referred to as Cost For Comparison).

The percentage of a property’s value for which the mortgage can be used.
Example: 75% loan to value = 25% deposit.

This is the fee that must be paid to the lender when you take out the mortgage. It can be applied to the loan or paid separately.