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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 19
    • BenAJSinbad
    • By BenAJSinbad 5th Jun 17, 9:37 PM
    • 2 Posts
    • 0 Thanks
    BenAJSinbad
    Hi everyone,

    Our broker submitted our application on Friday and then yesterday sent Declaration, Gift Deposit form and key facts for us to review/sign. We sent those back this afternoon so its just fingers crossed now. 2 weeks sounds like a looooooong time with this anxiety - but i've seen that some people have had to wait much longer! So won't complain

    We've sent our broker loads of info (wage slips, SA302s, bank statements, and IDs) so I'm hoping they'll have everything they need off hand...

    My partner has had some credit issues in the past which makes me nervous but looks like they approve people in a similar boat all the time..

    Other issue is we are 2 weeks into our '28 day exchange' window with builder so really hoping we get an offer sooner rather than later (if at all!).
    • Mark7519
    • By Mark7519 6th Jun 17, 8:05 PM
    • 5 Posts
    • 0 Thanks
    Mark7519
    valuation
    The valuer wrote on the report that there could be some problems selling the property in the future due to it being next door to a nursing home and a commercial building directly behind the house. We are gutted but at least we found out now and not in 5 years time. Lost our valuation fee which is s bit crap but never mind.
    • Mark7519
    • By Mark7519 12th Jun 17, 7:48 PM
    • 5 Posts
    • 0 Thanks
    Mark7519
    Another Application ready to be submitted
    We have managed to find another property that have accepted our offer so fingers crossed everything comes through this time.
    • klbancroft
    • By klbancroft 12th Jun 17, 8:33 PM
    • 10 Posts
    • 0 Thanks
    klbancroft
    Great news Mark... good luck 👍
    • Mikec1982
    • By Mikec1982 12th Jun 17, 9:55 PM
    • 7 Posts
    • 0 Thanks
    Mikec1982
    Good luck mark we had are survay done Saturday and report come back fine it's with the underwriters at the moment waiting on a decision. Hope all go's through on your new house I just hope we don't get asked for more documents.
    • BenAJSinbad
    • By BenAJSinbad 13th Jun 17, 8:46 AM
    • 2 Posts
    • 0 Thanks
    BenAJSinbad
    Survey is happening today on ours Mikec1982 - their website states '5 days for valuation receipt', but you had yours back in 2? That's good, as our 28 day exchange period is nearly up! Arrggh! Good luck on getting your offer :-)
    • Missymae0
    • By Missymae0 13th Jun 17, 2:22 PM
    • 32 Posts
    • 125 Thanks
    Missymae0
    Hi we are currently waiting for our broker to submit the application after receiving an offer in principle a week ago.

    Kind of wish I hadn't read this thread as I am now extremely nervous ��

    We are buying a new build with HTB on second tier with precise.

    We have until 28th July to complete keeping my fingers crossed ����
    • Mikec1982
    • By Mikec1982 13th Jun 17, 4:00 PM
    • 7 Posts
    • 0 Thanks
    Mikec1982
    My 28 day exchange was up yesterday but I just explained were we are up to and they have not said we can't compleate. I just hope it's good news Friday otherwise I think it will be two late as it's 3 day turn around on new documents.
    • Flossy84uk
    • By Flossy84uk 13th Jun 17, 7:51 PM
    • 1 Posts
    • 0 Thanks
    Flossy84uk
    Application submitted 31st May
    Hi

    Our application was sent in on the 31st May, valuation was done in a day and report back in 2days. They came back quite quickly with further information requested. We got what they needed within 30mins as they were working on our case when they requested but I found out they submitted it and it went to the back of the pile for 4working days. The 4th working day was today so I emailed for an update, they have requested further information again and information they already had 3times. We are due to complete 1st week in July so am scared the timescale is going to pass! Even our HTB part is through and that only took 24hrs to be approved.

    Has anyone paid there solictors to do searches etc before the mortgage offer has come through? The company were buying the property off has asked us to get these done now before the offer comes in.
    • Thefutureisbright
    • By Thefutureisbright 13th Jun 17, 8:25 PM
    • 97 Posts
    • 12 Thanks
    Thefutureisbright
    Flossy84uk - if your confident in getting the offer through, I'd get the searches done as soon as possible as we had a massive delay with getting ours as I held on until the offer came. The searches are apparently being delayed at the moment as they're running behind according to our solicitor so I'd check with yours as it may be dependent on location.
    • 1sttimebuyer91
    • By 1sttimebuyer91 14th Jun 17, 6:41 AM
    • 3 Posts
    • 1 Thanks
    1sttimebuyer91
    Hi all,
    Been following this thread for a while and decided to join and share this journey with you! Our application went in with precise 1 week ago- haven't heard anything yet although received the DD letter within a couple of days.
    Tried chasing mortgage broker and heard nothing back- haven't heard from him since I complained to him that he should have warned me of the £35 TT fee that was added to the valuation fee before it was taken from my account. Let's hope he's not going to make this difficult now!
    We've instructed our solicitor surveys a week ago too to get things moving- does mean a risk we'll lose a lot of money now if we are rejected but I'm hoping for the best!
    Going to chase again today as sure there should have been some movement by now with the 4 day turnaround.
    • Missymae0
    • By Missymae0 14th Jun 17, 11:00 AM
    • 32 Posts
    • 125 Thanks
    Missymae0
    We paid our searches with the solicitor before the application was submitted.

    I have sent payment for the survey today however the payment hasn't been taken yet

    Does anyone know if the survey goes ahead even if haven't approved the application?

    I know they have carried out a credit check as I checked my Experian report, that was done yesterday the same day that the application was submitted
    • Thefutureisbright
    • By Thefutureisbright 14th Jun 17, 11:10 AM
    • 97 Posts
    • 12 Thanks
    Thefutureisbright
    I'm trying to find the inoffensive words possible for a public forum but I'm struggling!!

    We have had 2 offers throghbfrom Precise and TWICE they have dowbvalued the property...AFTER OFFER!!!!

    We have exchanged contracts, have a move date of 26th June and they have come back this morning after sending out our offer last week by another £13k!!!!! As things stand, we are homeless in under 2 weeks due to the ineptitude of this company!!

    They don't represent themselves as a 'real' mortgage lender in any way shape or form and they have really effed us over!

    BE AWARE!!!!
    • 1sttimebuyer91
    • By 1sttimebuyer91 14th Jun 17, 7:09 PM
    • 3 Posts
    • 1 Thanks
    1sttimebuyer91
    Hi Missymae

    If they reject your application prior to the survey being carried out then you'll get it back- if they've carried out the survey prior to rejecting then you won't.

    I had an update today- few queries about whether I'm on probation period and about how we are clearing our unsecured debt (selling car as both now have company cars). Now have declaration to sign and return and advisor was asked for statements and payslips which he has sent today.

    Sorry to hear of the nightmare you're having thefutureisbright I hope you get some good luck soon.
    • sarahesmith
    • By sarahesmith 19th Jun 17, 10:06 PM
    • 1 Posts
    • 0 Thanks
    sarahesmith
    Sorry to jump on this thread but Can anyone help, me and my partner submitted full application for precise through broker on 25/05/17 we have been told we have passed all credit checks and they have instructed survey on the property we are buying, they have requested further documents on 4 different occasions with a turn around of 5 days, I only have 10months continuous employment due to pvg checks taking 3 months come through before that I had been employed for last 4years with no gaps in my employment history I'm now being told this may be an issue due to my tax on my p60 not adding up this seems to be the only issue with our application does any one know if they will still accept us on this or we likely to be declined after waiting so long for a decision I really don't want any bad news😩
    • lsutton
    • By lsutton 22nd Jun 17, 11:16 PM
    • 6 Posts
    • 0 Thanks
    lsutton
    Bank statements
    Hi guys,

    Just about to submit full application.

    Can anyone who got asked for more bank statements apart from the normal 3 be more specific?

    In terms of months - what you originally provided and what extra you had to provide?

    I'm trying to avoid a bad month!
    • Missymae0
    • By Missymae0 23rd Jun 17, 7:21 AM
    • 32 Posts
    • 125 Thanks
    Missymae0
    I had to provide 12 months bank statements but that was to show my rent payments.
    • Sarbs900
    • By Sarbs900 23rd Jun 17, 8:09 AM
    • 1 Posts
    • 0 Thanks
    Sarbs900
    We are also going through an application with Precise, full application was submitted 14/06 valuation fee was also taken the same day. We signed the declaration on 20/06. Valuation was also instructed on this day. They came back to me on 21/06 asking me to provide proof of address from 2015/16 & 2017 which I was able to send back straight away. Spoke to estate agents who advised valuation has been booked in for Monday 26/06 so only 6 days from valuation being instructed to being booked in. Fingers crossed everything else goes as smoothly as I think I have given them even piece of paper they could possibly ask for. Has anyone every been declined even after the valuation has been done?
    Didn't think it would be this stressful, don't think I've ever checked my phone so much.
    • Missymae0
    • By Missymae0 23rd Jun 17, 3:51 PM
    • 32 Posts
    • 125 Thanks
    Missymae0
    Ahhh so stressed now.

    We were originally planning to buy next year and not right now so we have not tidied up our bank statements ��
    Precise have come back today to MA and queried if we can actually afford the repayments. There is a £280 difference in our current rent and what our mortgage payment would be.
    They have queried a loan £187 (recently paid off) a payment to Tesco bank (car insurance) and the fact that we use our overdraft.

    My husband also pays around £400 a month into a company shared scheme which we have been using to save for fees etc but will be stopping.

    I'm guessing it's not looking good for us, so upset with myself!
    • lsutton
    • By lsutton 23rd Jun 17, 9:16 PM
    • 6 Posts
    • 0 Thanks
    lsutton
    Oh no! I think we may have the same problem. Did you have any charges on your bank statement etc?
    How did you mortgage advisor respond to them and what does he think?
    Have you had your valuation yet?
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