Precise Mortgages - how long from application to offer?

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Comments

  • Sorry his 2nd loan is 1.5 not 15k as it reads!
  • Hi all..help and advice needed!

    My partner and I are looking at purchasing our first home on HTB.

    Due to credit issues in the past, we have had to look at using precise (I have had a few missed payments on a credit card last being in Jan 2013 and i no longer have credit cards. My partner has had 4 defaults dated between Dec 13 and May 15..He has completed a DMP in May 2016.)

    Neither of us now have any debts/loans/credit cards.

    We have recieved an Offer in Principle from precise and have a meeting to submit a full application this week.

    I have read that we will only be considered if we have alot of savings left over after the deposit is paid? is this correct?

    Anyone else had similar credit issues and been accepted with precise?

    Your help would be appreciated in this stessful time!! xx
  • Looking at precise lending guide, it says DMPs need to be satisfied 3 years ago.
  • abi34
    abi34 Posts: 26 Forumite
    Hi,

    Just a quick update , we have completed our house purchase! Best feeling ever ..�� finally we can call it ours .. it was a bumpy ride from application to completion, all we can say is precise was fantastic, we are very happy how they dealt with our file . Although I must say we had to wait 7 weeks from application to offer , but in the end it was well worth the patients. we will be moving in after a major revamp , just in time before Christmas! .. good luck to all those who are waiting an offer , all the best . God bless.
    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each".. ;):cool:
  • Congratulations abi34 :)
    Loan £6700.00
    ISA £3000
    SAVINGS £2100
  • Hi all

    Congratulations to all those who have their offer and good luck to those still waiting! We are putting our full application in with Precise this week - just waiting for one more document to arrive through the post that they request and then we can go ahead! Really excited about the house but cautiously optimistic re the mortgage haha!
  • Hi Abi Congratulations. Just quick update for all as well they have issued my mortgage offer today. So one big step out of the way now is just completion. overwhelmed took exactly two weeks since submission of application and that's with requested documents back and forth twice to be fair. Cannot wait to start buying stuff for our house :)
  • Hello,

    We put our full application in on 16th Sept and so far have been asked for proof of residency from 2014. This was requested last Friday 23rd. Valuation on the new build is in Thursday. Our broker did say they are still waiting for Miller homes to return the CML certificate of incentives and then hopefully we will hear something good! We have paid £600 already and the solicitor is wanting £200 for searches. I'll be so gutted if I've lost all this money and still have no new house. Glad to hear some people have had a quick response. Do you know how long it normally takes from valuation to older with them?
  • *valuation to Offer I meant
  • So far our application went in on Friday 1st October and valuation fee was taken the same day!!

    Hopefully not a long wait. We have literally submitted every bit of paperwork possible so hoping they won't come back for more!!
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