The lender has been asked to be more honest with brokers following a series of incidents that led to a hold up in a mortgage completion.
Peter Wright, financial adviser at CBK, said he received confirmation of a property valuation from RBS on 29 September, and was instructed on 6 October that it would take three working days to produce an offer. On the 11 October, Wright was told the offer was a day behind schedule and was going through the final checks. However, two weeks later, the offer letter had still not arrived.
He explained: “After daily calls to my business development manager, I was repeatedly informed that the offer letter was being processed that day. I expect there to be peaks and troughs in lenders’ service levels sometimes, especially when they put out a market-leading rate. However, it is the lack of honesty that annoys me. Why didn’t RBS tell me there would be a delay instead of repeatedly lying to me? There are obviously problems in the way it runs its operation. Brokers are not being told the right information and as a result, we cannot communicate effectively with clients. This case has led to lost time and money all because RBS won’t admit there is a problem or tell brokers the truth.”
Wright has logged a formal complaint with the lender asking for the valuation to be refunded to the client and has submitted an invoice for £300 for additional administration costs.
RBS admitted it had service issues over the Summer months, but stressed these had now been ironed out. A spokesperson for the firm, said: “Without knowing the full details it is difficult to provide specific comment. However, we will endeavour to get to the bottom of the issue to find out what has happened. I can confirm that the offer has now been sent out.”
