Reverse Mortgage Forms & Calculators

Online Reverse Mortgage Calculator

The calculators will show you the key information about your loan:

Step 1: How much can I borrow?
Step 2: How can I draw the loan?
Step 3: How much equity might I have left at the end of the loan?

Open the equity release calculator

You can read more about the options and choices in the Information about the calculators on this page. If you have any problems with these calculators please call us on 1800 99 99 59 and we can help.

Forms download

Download the Reverse Mortgage brochure
[PDF 3.7MB]

Download the Reverse Mortgage application form
[PDF 626KB]

Download the Reverse Mortgage calculator
[XLS 1.1MB]

Download the Redraw Request form
[PDF 49KB]

Download the Variation Request form
[PDF 63KB]

You can have a copy of the brochure and application form posted to you at no cost. Simply fill in the RBS Reverse Mortgage brochure and application request form here.

Information about the calculators

Step 1: How much can I borrow?

1. Enter the age of the youngest borrower
2. Enter the approximate value of your property
3. Enter the post code of the property
4. Enter the percentage of your equity that you would like to protect (0%-25%)

What is the protected equity option?

There is a no negative equity guarantee, which means you will never owe more than the value of your property. However, if it is important to you to know that you will definitely have some equity left in your property at the end of the loan then this option could be for you.

This may be because you wish to leave money to your children or want to be sure you have some money for medical bills or to get into a retirement home. It's a safety net that we think will appeal to many customers.

In the calculator just enter the percentage you wish to protect and then it will show you how much you can borrow.

Example:
Bill has a property worth $1m. He decides to "protect" 25% of the equity. This means that RBS will lend against 80% of the value of the property i.e. $800,000.
This means that he cannot borrow as much as before, due to the effective value of the property being lower, but $200,000 is "protected".
If in 10 years time the property is worth $2m, then the protected component is now worth $400,000, whatever has happened to interest payments in the meantime.

Step 2: How can I draw the loan?

RBS offers you a lot of flexibility in how you can draw this loan. You can receive your loan as a lump sum, a monthly income, a flexible drawdown or a combination of all three. And RBS offers a choice between fixed and variable rates, depending on the structure of your loan.

The default is for all money to be drawn via the monthly income method, but you can type in any amounts you wish in each of the boxes and change the period over which you want to receive your money. The calculator will tell you the amount you have left or if you have asked for too much in your allocations.

The lump sum options can be fixed or variable rate,or a combination of both.

If you want to use a fixed rate, you have a choice between 5, 10, 15, 20 year or Lifetime. When the period matures you will have the choice to fix it again or let it switch to the variable rate that applies at the time.

Remember that if you want to repay a fixed rate loan early voluntarily then break fees may apply depending on the interest rates that apply at the time.

The monthly income option works out how much money you can have per month over a period that you choose from 5, 10, 15 or 20 years. Just use the dropdown option to choose the period you want.

You can also choose between receiving the same amount per month for that period or have it increase by 2.5% per year. Again just use the drop down option to select your preferred option.

Finally there is the flexible drawdown option. This is like a line of credit that enables you to draw or pay back the loan when you wish to, within the agreed maximum amount that you have arranged to borrow.

Just enter the limit that you would like to have and then it is up to you when you withdraw it. There is a minimum draw and repayment of $1,000, but repayment is not required until the end of the loan.

Step 3: How much equity might I have left at the end of the loan?

This calculator helps you work out how much equity you may have left at the end of the loan. You can change the interest rates, house price growth rates and the term of the loan depending on your own expectations and to test different scenarios.

Then go onto the results page.

If you have any problems with these calculators please call us on 1800 99 99 59 and we can help.