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Anyone awaiting offer from RBS ?

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Hi there

Just wondered if anyone else is awaiting an offer from the RBS and if so how long have you been waiting ?

Someone in our chain 'has' been told that the mortgage has been approved but no sign of the offer. This has been going on now for over three weeks. I just wondered what the average waiting time is with RBS ?

Any info greatly received :T
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Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Good luck - I've been advised that they have a 15 working day back log before they look at anything that comes in.

    I've got a couple of cases caught up in that back log. Having said that, most lenders appear to be in the same situation at present, so just a case of waiting I'm afraid
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dulux72
    dulux72 Posts: 7 Forumite
    Thanks herbiesjp

    We were beginning to doubt what we were being told.

    So just so I'm clear in my own mind the 15 working day backlog is before they even look at it let alone do anything with it !

    Just very frustrating when all the other parties are ready to exchange and now its all ground to a halt :(
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Thats right

    And if they then need to request further information then guess what - back of the queue I'm afraid all over again

    Best thing is to keep calm, as there is nothing to be done, and just relax.

    I know it's hard as everybody wants to move asap, but in the current climate, I would just sit tight
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • LillyJ
    LillyJ Posts: 1,732 Forumite
    herbiesjp wrote: »
    Thats right

    And if they then need to request further information then guess what - back of the queue I'm afraid all over again

    Best thing is to keep calm, as there is nothing to be done, and just relax.

    I know it's hard as everybody wants to move asap, but in the current climate, I would just sit tight

    We are waiting on Halifax (obviously same company as RBS).

    We got AIP there and then within about 2 mins emailed to us. We then did application over the phone and paid an hour later for survey. The only document they requested was ID which we showed at the branch that afternoon. The survey was done yesterday, which we have been waiting a week and a half for, so expecting the offer soon!

    The main delay it seems at this stage seems to be the survey, but they have assured us there will be no problems unless the valuation is too low (which we think unlikely!) and that we will definately get the offer ASAP.

    Good luck with your chain, our vendors have only just had offer accepted and we are FTBs so waiting to hear the length of the chain above us.
  • dulux72
    dulux72 Posts: 7 Forumite
    LillyJ wrote: »

    The main delay it seems at this stage seems to be the survey, but they have assured us there will be no problems unless the valuation is too low (which we think unlikely!) and that we will definately get the offer ASAP.

    Good luck with your chain, our vendors have only just had offer accepted and we are FTBs so waiting to hear the length of the chain above us.

    Sorry to be the fly in the ointment but the survey for the RBS was done over 3 weeks ago and the FTB's at the bottom of our chain are still awaiting their offer in writing :(
    So unfortunately you too may have a little while to wait before the offer is confirmed in writing.
    Best of British to you though and I hope your wait is shorter than ours !
  • Gailk
    Gailk Posts: 58 Forumite
    LillyJ wrote: »
    We are waiting on Halifax (obviously same company as RBS).

    Halifax is part of the bank of scotland, not the Royal Bank of Scotland, as far as I know. Different companies I think?
  • ilnf
    ilnf Posts: 150 Forumite
    LillyJ wrote: »
    We are waiting on Halifax (obviously same company as RBS).

    Is it not Bank of Scotland who are part of Halifax and not Royal Bank of Scotland or am I all mixed up?

    Our broker told us to expect a 4 - 6wk wait if we went with RBS.
  • jem16
    jem16 Posts: 19,586 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ilnf wrote: »
    Is it not Bank of Scotland who are part of Halifax and not Royal Bank of Scotland or am I all mixed up?

    RBS is nothing to do with the Halifax.

    The Bank of Scotland and Halifex merged to become HBOS - Halifax Bank of Scotland.
  • Dan_Collins_2
    Dan_Collins_2 Posts: 1,377 Forumite
    Yeah, I got an offer within 3 working days form Halifax! Still waiting on one from RBS that was applied for about 2 weeks before the Halifax deal!
    :confused:
  • Tiddler_2
    Tiddler_2 Posts: 537 Forumite
    Halifax are usually pretty quick - as are Nationwide. Valuations are usually done in 2 working days on a mortgage valuation, but Home Buyers reports are about a week (all depending on the seller or their agent being around to let them in)

    Unfortunately RBS companies (RBS, First Active, The One a/c) are dire at the minute, but very often the only choice, particularly if someone needs a high income multiplier. The 3 week backlog is assuming they have all the information on day 1. If they have to ask the broker for additional information it will possibly take a further 3 weeks to look at the outstanding post item. Co-op are just as bad - 2 weeks to underwrite a case - it really is appalling, considering that there are less mortgages being processed than for quite a few years
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