How long does a remortgage decision take?

eilidh_s

I am currently on an interest only mortgage which I took out to build my house. Luckily I got it just before the crash and it's now only at 2% interest and I am overpaying it as much as I can now that the house is built to knock down the balance, as well as overpaying a car loan, plus a small loan which I needed to get the build of the ground.

Last month the early repayment charges ended so I thought I would have a look at remortgaging with a proper repayment mortgage and decided to try RBS first since I bank with them anyway. For affordability purposes I said I would be consolidating the loans, they are both with RBS so they had no problems with that and with a 5 year fix at 4.39% I would actually be paying less than I pay each month just now, not including the overpayments with everything.

Anyway I passed the first credit check but they said it would be the underwriters decision. This was on the 21rst July. I got sent a pack with some papers that I had to sign and send back. Did that last Tuesday so they would have recieved it by say Thursday. Still haven't had a phonecall or a letter saying yes or no though so I was wondering how long it usually takes? I am currently going with the theory that no news is good news as if it was a no then I am sure they would have phoned!