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  • FIRST POST
    • starrybear
    • By starrybear 5th Jul 16, 2:57 PM
    • 52Posts
    • 3Thanks
    starrybear
    Precise Mortgages - how long from application to offer?
    • #1
    • 5th Jul 16, 2:57 PM
    Precise Mortgages - how long from application to offer? 5th Jul 16 at 2:57 PM
    Hi all,

    I've searched for answers to this, but can't find anything recent.

    If anyone has dealt with Precise recently, I'd appreciate any insight into your timelines?

    Thanks in advance
Page 1
    • amnblog
    • By amnblog 5th Jul 16, 3:21 PM
    • 10,028 Posts
    • 3,903 Thanks
    amnblog
    • #2
    • 5th Jul 16, 3:21 PM
    • #2
    • 5th Jul 16, 3:21 PM
    About three weeks currently.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • starrybear
    • By starrybear 5th Jul 16, 3:27 PM
    • 52 Posts
    • 3 Thanks
    starrybear
    • #3
    • 5th Jul 16, 3:27 PM
    • #3
    • 5th Jul 16, 3:27 PM
    Thanks amnblog. And is that the timescale as a straightforward application, or would that include extra docs needing to be sent etc?
    • amnblog
    • By amnblog 5th Jul 16, 3:47 PM
    • 10,028 Posts
    • 3,903 Thanks
    amnblog
    • #4
    • 5th Jul 16, 3:47 PM
    • #4
    • 5th Jul 16, 3:47 PM
    That is the case done correctly.

    I wouldn't be quoting timescales based on half baked applications cos we don't do those.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • starrybear
    • By starrybear 5th Jul 16, 3:55 PM
    • 52 Posts
    • 3 Thanks
    starrybear
    • #5
    • 5th Jul 16, 3:55 PM
    • #5
    • 5th Jul 16, 3:55 PM
    'We'? Do you work for them directly?
    • amnblog
    • By amnblog 5th Jul 16, 3:56 PM
    • 10,028 Posts
    • 3,903 Thanks
    amnblog
    • #6
    • 5th Jul 16, 3:56 PM
    • #6
    • 5th Jul 16, 3:56 PM
    'We' as a brokerage.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • Ronnie Pickering
    • By Ronnie Pickering 10th Jul 16, 12:50 AM
    • 2 Posts
    • 0 Thanks
    Ronnie Pickering
    • #7
    • 10th Jul 16, 12:50 AM
    • #7
    • 10th Jul 16, 12:50 AM
    My full application went in 24th July, broker said they requested more info a week later (1st July) being more bank statements, official SA302's signed by HMRC and home phone number.

    Letter arrived on the 4th directly from lender confirming direct debit details (I would assume standard practice).

    All info now received from HMRC and will be submitting all docs on Monday 11th.

    A waiting game now but I got the impression that they don't process or work on a huge amount of applications at a time as we phoned them to ask if they would accept faxed copies from HMRC and they said they were working on three other apps in front of ours so not to panic and wait until HMRC send the docs in the post.
    • phil22
    • By phil22 10th Jul 16, 9:48 PM
    • 141 Posts
    • 26 Thanks
    phil22
    • #8
    • 10th Jul 16, 9:48 PM
    • #8
    • 10th Jul 16, 9:48 PM
    Im also lookingg at this, we have a mortgage in principal and have out fianacal advisor visiting us this week. My partner has some debts etc and hes paying them off, weve had a mortgage in principal be accepted from them but anyone know how likly they are to accept everything? Im worried about all the bank statements and just all the info they need, do they accept a lot of people?
    Thanks
    • Linzi987
    • By Linzi987 12th Jul 16, 8:07 PM
    • 17 Posts
    • 3 Thanks
    Linzi987
    • #9
    • 12th Jul 16, 8:07 PM
    • #9
    • 12th Jul 16, 8:07 PM
    We put our application on the 4th July after a delay in our brokers office, not impressed with them ATM) the were assessing applications last Friday but heard they wanted further documents ie. The declaration (anyone else not signed this in the beginning? Trying to figure out if that needs adding to my list of complaints) and poa from 2014. I am convinced this is a bad sign and things aren't going to plan. I am 7 months pregnant and loosing sleep over it, has anyone else had positive or negative experiences after extra documents being needed?
    • Linzi987
    • By Linzi987 12th Jul 16, 8:13 PM
    • 17 Posts
    • 3 Thanks
    Linzi987
    We have a DIP and quoted rates of 5.3 something, I have a default that I had
    No idea above from virgin media when we moved two years ago which I am currently taking to the ombudsman as they have admitted they sent paper work to my old address rather than my new. My partner had a pdl within the last two years and both have credit cards which we are paying off. We're still waiting and I'm searching similar stories to find out if they have been accepted, older stories with ccjs and all sorted seem to of been cceoted in the past however others more recently not. If you find anything out please let me know!
    • amnblog
    • By amnblog 12th Jul 16, 8:15 PM
    • 10,028 Posts
    • 3,903 Thanks
    amnblog
    The requirement for previous years proof of address cannot be anticipated by the broker. It is because you are not coming up at the stated address on the search in 2014.

    Declarations are often best produced on submission of the application.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • Linzi987
    • By Linzi987 12th Jul 16, 9:47 PM
    • 17 Posts
    • 3 Thanks
    Linzi987
    Thank you, makes me have a little more faith in the broker, have you had much experience with precise?
    • jadecharles26
    • By jadecharles26 14th Jul 16, 4:09 PM
    • 31 Posts
    • 3 Thanks
    jadecharles26
    Hi all... New to the game
    Just though I would join in as we are awaiting to be accepted from precise also. The full application went in on Monday and so far all we had to do is change solicitors. We recieved the direct debit confirmation today which states "if" you are accepted. I'm just wondering at what stage they are... Have they flicked through all paper work yet? This is so stressful lol.... Broker reckons we should know something tomorrow? Not too sure though x
    • phil22
    • By phil22 14th Jul 16, 4:39 PM
    • 141 Posts
    • 26 Thanks
    phil22
    Hi jade same here ours prob went in tuesday/ weds, havnt had a letter yet though or the money taken . Very nervous but are fiancial advisor said 3-4 weeks is the general wait at the moment to see if weve been accepted did you chhoose precise for bad credit too?
    • starrybear
    • By starrybear 14th Jul 16, 4:50 PM
    • 52 Posts
    • 3 Thanks
    starrybear
    We had valuation money taken, and all declarations/direct debit info signed and submitted two weeks ago. Precise declined us on Tuesday :-(
    • alan0356
    • By alan0356 14th Jul 16, 5:08 PM
    • 20 Posts
    • 11 Thanks
    alan0356
    Not To Worry
    When you have a Decision In Principle done by Precise they do a soft search on your credit file from which they can see your credit history ie CCJ's , Defaults etc, from this they offer you the products which match your status. Your broker will be advised by Precise as to what documentation is required - they always require applicants to sign their Declaration form - the broker should have been aware of this at the outset. Also proving addresses over the last 3 years is also a standard thing and a Bank Statement for the required year will be acceptable - it must be that you do not appear on voters role or credit search data for that period. Any lender reserves the right to request further information after receiving application - from what you have said I would not get too worried - just keep in close contact with your broker.

    I am a mortgage broker and as such used Precise many times - as with any lender you just need to know how their systems work and the time frames they work to - when any lender gets in a lot of business the time taken to review information starts to take longer - most lenders will tell brokers what their current service level are and it up to us as brokers to keep our clients informed and hence take the stress out of the mortgage process.

    This response is for information only.
    • phil22
    • By phil22 14th Jul 16, 5:10 PM
    • 141 Posts
    • 26 Thanks
    phil22
    Oh no, do you know why, my partner has a ccj from last year etc but im fine, my advisor thinks we will be ok but not sure myself, worried now. 2 weeks is quick

    Alan do you think if our advisor if shes confident thats a good thing or genrally do they not kmow, we have had a mortgage in principal so if thats been accepted which it has do you think its likely the whole thing will be.
    Last edited by phil22; 14-07-2016 at 5:12 PM.
    • jadecharles26
    • By jadecharles26 15th Jul 16, 9:47 AM
    • 31 Posts
    • 3 Thanks
    jadecharles26
    Thanks for the replies guys!! Starrybear that's gutting sorry to hear that!! Did your broker explain why?
    Our money was taken same day as the application was submitted. And then yesterday I had the direct debit confirmation sent so im
    Hoping this means they have actually had a look at our appliction. Our broker said we should know by today but I'm not convinced as I've heard they can be quite slow. Also my husband checked on experian and we have both had searches done by them on Monday. Let's hope if anything they didn't like would have flagged up and we would have known about it. Yes my husband had defaults in the past .. 2 coming up to 6 years this September and the last in two years old. All settled but his score isn't the best. Mines average according to noddle.
    Anyone had any updates?
    Thanks guys! Nice to chat to people who are in the same position.
    Last edited by jadecharles26; 15-07-2016 at 9:49 AM.
    • alan0356
    • By alan0356 15th Jul 16, 10:16 AM
    • 20 Posts
    • 11 Thanks
    alan0356
    As long as you have passed Precise credit score and your broker has had a Decision In Principle agreed there should not be a problem as long as you can prove income, address history etc.

    It must be borne in mind that lenders have 1000's of applications on the go at any one time from brokers all over the country and it therefore takes time for applications to be processed with lenders usually operating a strict system - looking at Precise times today they are working on applications received on 11 July 2016.

    I am a mortgage broker and this is for information only.
    • jadecharles26
    • By jadecharles26 15th Jul 16, 11:13 AM
    • 31 Posts
    • 3 Thanks
    jadecharles26
    Ohh thank you... Well I guess that is why our broker said we could find more info out today as ours was recieved on Monday. Yeah we passed DIP there and then and it looks like credit searches was made on Monday. Hopefully I am over stressing and everything's fine. Our broker had all the info needed at the start i.e bank statements. We both on electrol roll so hope we have all bases covered.
    Ohh I can completely appreciate they must be busy. Thank you
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