Anyone awaiting offer from RBS ?

dulux72

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

herbiesjp

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

dulux72

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

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

LillyJ

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

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

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

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

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

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!

Tiddler_2

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