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  • FIRST POST
    • starrybear
    • By starrybear 5th Jul 16, 2:57 PM
    • 56Posts
    • 5Thanks
    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 32
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 27th Sep 17, 9:30 AM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    time2go fabulous!
    • Cokibear123
    • By Cokibear123 27th Sep 17, 5:17 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    Hi. I have been reading through all your posts for the last two weeks and I can now say that today we have received the application form for a mortgage with Precise. We have got the DIP so hopefully it is full speed ahead. Just need to complete and sign form then send it back with the money for the valuation to the broker.

    Iím hoping itís not going to take too long. We are remortgaging so that I can buy my ex husband out of the house and pay off debts that have built up. I have a couple of ccjs and defaults and thatís why we are using Precise.

    Hope to get to know some of you during this
    • EverythingIWant
    • By EverythingIWant 27th Sep 17, 9:58 PM
    • 35 Posts
    • 2 Thanks
    EverythingIWant
    Hi Coki,

    All I can say best of luck with your journey, nice to have new people on board! As long as you are not expecting an offer overnight then I am sure you will be fine! Quite a few people had there offers recently
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 28th Sep 17, 1:19 PM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    hi all




    my valuation is going ahead today!


    initially only asked for bank statements and payslips but yesterday requested the following documents.






    • - 2 forms of ID
    - Signed Standard Declaration, Direct Debit, our documents.. fee agreement, formal agreement, terms of business and suitability letter (these will be in the pack we sent you


    - 2017 P60.


    - Copy of the CML Disclosure of Incentives completed by the seller, as this is a new build property (the builder should have provided you with this)


    - Proof of residency for 2015, 2016 and 2017 (within last 3 mths).


    struggling on how to find proof of residency from 2015 !!
    anyone help on what they had to provide please?





    • Time2go
    • By Time2go 28th Sep 17, 1:29 PM
    • 198 Posts
    • 43 Thanks
    Time2go
    Any online bills council tax or ask hmrc for copy of tax code from then
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 28th Sep 17, 1:47 PM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    thank you.




    I will have to contact hmrc I think.
    • charandkai
    • By charandkai 2nd Oct 17, 2:37 PM
    • 2 Posts
    • 0 Thanks
    charandkai
    Hi 1sttimebuy,

    Myself and my partner have recently applied with Precise (which has been a very long and stressful couple of months to say the least!!). I also had to provide proof of address from 2015 and struggled because they would only accept original statements or utility bills. The address they needed proof for was student accommodation, so I didn't have any utility bills, and needless to say I didn't keep any original bank statements from that time either (I was only there 6 months).

    I called my bank (Santander) and they have provided a letter with my address history. Our advisor said this would be fine (which was a relief as it's this letter or nothing, basically). Sent it off today so fingers crossed we hear something positive soon! We reserved the house in July, got rejected by Halifax because we're self employed and don't have enough years books, and have already had the valuation by Precise (we're doing HTB too). This is the last thing they've asked for now so I'm really hoping it all goes to plan. I didn't realise buying a house was quite so stressful.
    Last edited by charandkai; 02-10-2017 at 2:37 PM. Reason: didn't make sense
    • MissSJL
    • By MissSJL 2nd Oct 17, 3:00 PM
    • 118 Posts
    • 5 Thanks
    MissSJL
    Wonderful to read so many success stories on here! Gives me a bit of hope that myself and my partner will be able to get a mortgage for our family one day despite our adverse. That being said, prices around our way are rocketing which is extremely worrying - we might be able to afford a 2 bed flat by the time we’ve saved enough......
    • Cokibear123
    • By Cokibear123 2nd Oct 17, 4:27 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    My application has just been submitted!!!! Eeeekkk itís all scary!
    • EverythingIWant
    • By EverythingIWant 2nd Oct 17, 8:01 PM
    • 35 Posts
    • 2 Thanks
    EverythingIWant
    I am hoping I am near the end of the journey now after being quizzed for several different documents on seperate occasions. I look forward to seeing how the new people come on! Good luck to all
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 3rd Oct 17, 12:51 PM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    hi all




    submitted hmrc documents and car reminders for tax as proof as I had nothing else.


    I have literally lost so much sleep since June and worrying and stress! hopefully it will be sorted next week !


    they have asked for over 30 documents within the last week and luckily I had them all at hand to scan over but just the passport and driving licence to send in the post.
    my new build is 2-3 weeks away from being finished so hopefully everything will be ok!






    good luck all!!!!
    • budgie32
    • By budgie32 3rd Oct 17, 2:26 PM
    • 3 Posts
    • 0 Thanks
    budgie32
    Hello,

    I am still waiting on our final offer from Precise. I have no credit rating and some historical defaults (no CCJs or DMPS) but my husband has a great credit rating so our broker found precise who accepted us on a tier 4 at AIP. I was surprised it was a tier 4 given how long ago the defaults were and that we have a 50% deposit, but options limited.

    Our full application went in on 24th August and full credit search done on same day.
    Valuation done on 5th September.

    Precise then came back for more info - updated Tax credits award, statement of earnings from HMRC for my husband as he only had p40s from his employer due to contract changes, proof of address for 3 years for my husband as he isn't on the electoral role and signed declarations.

    It took 2 weeks for the HMRC to send us the documents we needed, the last of which was uploaded last Tuesday. Our advisor has chased precise for us several times and was told that if the valuation has been done then this is a good sign and they are just doing final checks. Our advisor doesn't think there should be a problem, as affordability isn't an issue but theres always that chance!

    Solicitors have sent out contracts for signing for our buyers and for the house we are buying so things are starting to move. Its been just over 5 weeks since full application which isn't too bad really but nerves setting in now.
    • Cokibear123
    • By Cokibear123 3rd Oct 17, 5:49 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    My full application was submitted this morning and Precise have taken the valuation fee already. Is this a good sign???
    • EverythingIWant
    • By EverythingIWant 3rd Oct 17, 6:12 PM
    • 35 Posts
    • 2 Thanks
    EverythingIWant
    Coki that means you have passed the electronic criteria i.e what they can see on your credit file etc. It will now go to the manual underwriting stage where they will look through your statements etc and request more documentation I expect.

    Tax credits are a real pain, we are waiting on the letter arriving with an updated to the penny income letter. HMRC are slow as hell so our application is on pause till they get that.... The annoying this is we are not even using tax credits as our income!
    • Cokibear123
    • By Cokibear123 3rd Oct 17, 7:03 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    We are lucky that we donít receive tax credits so one less thing for them to ask for. Iíve been reading that they have been asking for proof of address etc and the good thing is that we have both been on the electoral roll at this address since 2013 so that should be ok. Also we are both employed and have been with the same employer for many years so another thing that shouldnít be needed etc.

    Hopefully it should be straight forward if weíve passed the full credit check.
    • EverythingIWant
    • By EverythingIWant 3rd Oct 17, 8:05 PM
    • 35 Posts
    • 2 Thanks
    EverythingIWant
    I had been with my employer 5 years but still requested contract of employment, 3 months payslips, p60 for last year, and contacted my work place for a reference on top of that. Fingers crossed it will go smoothly but I thought we were an easy case turns out they still wanted every document you could think of, I think the worst thing is the fact that it is a week pretty much after submitted something new until they tell you if what you have submitted is right. All in all they are very good though given the market they are serving. May I ask what you are buying new build etc? Help to buy? LTV? And how much you looking to borrow?
    • EverythingIWant
    • By EverythingIWant 3rd Oct 17, 8:10 PM
    • 35 Posts
    • 2 Thanks
    EverythingIWant
    And yes won't be a problem if your showing on the electoral role for the past 3 years and have no other linked addresses in that time frame. Have you found out which rate they have given you?
    • Cokibear123
    • By Cokibear123 3rd Oct 17, 8:11 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    I am remortgaging to buy my ex out of my house with my new husband. The house is worth £190,000 and I am borrowing £125,000. I have got defaults and ccjs from when we first split up and I was left on my own so that is why we unfortunately have to use Precise.
    • Cokibear123
    • By Cokibear123 3rd Oct 17, 8:13 PM
    • 18 Posts
    • 1 Thanks
    Cokibear123
    Yes we are on tier 4. Which is better than not getting a mortgage.
    • budgie32
    • By budgie32 4th Oct 17, 9:58 AM
    • 3 Posts
    • 0 Thanks
    budgie32
    they wanted to see our tax credits revision as they said they wanted to ensure there would be no future claw back from HMRC which would affect affordability. I needed to do it anyway for that reason as my salary had gone up substantially so it wasn't a problem. We don't use tax credits as our income but because we have 3 kids and get tax credits it is quite a chunk monthly so I don't have an issue with them checking it all out.

    They told my broker about 3 weeks ago that they had given full approval just needed to do the final checks before releasing the offer. I still panic though as they have requested additional documents since and have told her this.... she's confident, although very annoyed with Precise as they are being so slow at the moment.

    They have said close of business today apparently......
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