Whats the exact process of mortgage approval for RBS ?

haziec

Thats very good same as our daughter, I think their service is excellent. good luck with the survey

spectre

Hi Haziec

After the survey was done for your daughter how long before you had your mortgage offer through ?

Best Regards

haziec

about a week I think, good luck

spectre

HAZIEC wrote: »

about a week I think, good luck

thanks very much :T

spectre

spectre wrote: »

To confirm the process so far has been

1) Full application completed over the phone day1
2) Letter to confirm AIP and to request salary slips + sign agreement form day2
3) Original documents returned back day4
4) Surveyor instructed day6


Was also told the mortgage had been fully approved just the valuation to consider.

to add to the above,

5) Mortgage Offer letter received day 14

garethj

I am having a tough time with RBS. I got an agreement in principle fairly swiftly (~5 weeks ago) and they did the survey about a week later. My broker was told the offer would be out shortly after the survey but nothing came.

It turned out they had issues with our ID documentation and despite faxing, refaxing, posting again and again, they keep coming back with the same issues (only slightly modified excuses each time).

When phoning, sometimes their support staff will say the documentation is fine and readable only for it to come back as unreadable from their underwriters.

Has anyone experienced similar issues? Is there anyway to hurry them up as we are in serious danger of losing the house to another interested buyer?

reef

Similar issues with Natwest here too. We had an offer accepted on our chosen house 3 weeks ago and went into Natwest with all our documents. It is now 2 weeks later and they havent even instructed a surveyor yet, no valuation fee has been taken from my account and they are holding everything up.

Im now getting worried we're going to lose our house and the sellers will put it back on the market. The mortgage advisor is next to impossible to get hold of aswell, they're just completely useless!

Are they taking the mickey or is this pretty normal stuff?

garethj

My solicitor says this kind of thing is absolutely typical of RBS (and I guess that goes for Natwest too since they are now one and the same.
I would recommend you to keep phoning them to see what's going on. With me they didn't tell me or my broker anything was wrong until we got tired of waiting for the offer which they said they had sent out.

Topchick_dav

sw_jay wrote: »

In my case the underwriting was done first then the valuation survey was completed.

I spoke to RBS customer services on a couple of occasions. Once to find out what impact the low valuation would have on their mortgage offer and once to establish why they had not instructed the homebuyers survey.

On both occasions they were very helpful. They admitted it was their mistake not instructing the homebuyers survey even though we had requested it and offered to get it done for £200, which was what it would cost if they had completed it with the basic valuation instead of doing it seperately, which they now have to do.

This has just happened to us-rather annoying as we have been waiting for the final mortgage offer for 8 weeks now

Just wondering how long it took you for everything to go through after this?

smitjeh

Hi, first post but I have followed this website for a couple of years and cleared 18k worth of debt, thank you Martin.

Me and my partner started looking for a house early August, not expecting to find anything but fell in love with the second house we saw on Aug 4th.

Had mortgage in principle agreed over the phone with Natwest on the 3rd just in case, this was very quick and letter was faxed over to me, with a printed letter arriving in the post a few days later.

We put an offer in on August 4th and I went through the online application process with Natwest, received documentation 3 days later and sent the required information to them.

Aug 11th, documents had been received, decision will take about 5 days


I received a text message a couple of days later asking for an anti-impersonation letter to be signed and sent back.

I have a Natwest acc but my partner does not, she had to proof her income, provide bank statments and also provide her passport, and now she had to sign a letter and send it back, I just thought this was an un-needed step but I may be wrong. They received the letter as I rang to confirm.

Received a text message on the 18th Aug saying they have some questions regarding my application. They just required my card details for valuation.

2 weeks to valuation point seemed quite reasonable, money was taken out of my account the same day.

Didn't pester them as everything seemed to have gone smoothly so far.

I rang a week later on 25th Aug as the vendor was getting a bit worried as there has been no valuation. I was advised that it had not been done yet and would be marked as urgent and actioned the following day, rang back to check on the 26th, was advised that nothing had been done and the person the details were sent to was off work that day(Is there only 1 person working in that department???). I was advised it would be sent to someone else and it would take an hour. Gave them 3 hours and rang back, nothing was on file but was assured it had been sent to the valuations team.

Rang the valuation team and was finally given a date of wed 2nd September.

The valuation was done on time, valuation was fine, rang Natwest again to check and was advised it was at the underwriters and I should call back in 48 hours.

Called back today and I was asked to send in an anti-impersonation letter, tried to explain that this was sent in and was received without problem, so the person on the phone said "oh, we will issue you a mortgage offer then".

I'm not going to be happy till I have the offer in my hands as they haven't really filled me with confidence. I will be ringing everyday until it arrives.

Thats maybe not how the process should go but thats my experience so far.