Helping a customer buy a home is one of the most significant things we can do for them. Likewise, supporting them if they have trouble paying can make a massive difference in their lives.
This year we have focussed on helping interest-only customers, proactively contacting 30,000 of them and offering help with planning out how to repay their loan at end of term.
Mortgage highlights 2017:
◦ We provided around 188,000 new mortgages, gross new mortgage lending as at December 2017 was £33.9billion
◦ Around 230,000 customers completed an online Agreement in Principle to understand how we could help them – an increase of 15% from last year
◦ We supported the UK Government’s Help to Buy schemes, receiving nearly 9,000 applications for a Help to Buy mortgage, totalling £1.5 billion
◦ We provided around 45,000 first-time buyer mortgages – a total gross lending of around £6.5 billion
◦ We became the first bank in the UK to offer a fully paperless, digitised mortgage journey
◦ 52% of customers chose to renew their mortgage online
Home repossession is always a last resort for RBS. It is our policy to only go ahead with repossession after all alternative solutions have been considered, including assisted voluntary sale.
In 2017, we repossessed 484 properties, compared with 500 in 2016.