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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 33
    • Cokibear123
    • By Cokibear123 5th Oct 17, 1:04 PM
    • 11 Posts
    • 0 Thanks
    Cokibear123
    Budgie32
    Have you heard anything about your offer yet??
    • Cokibear123
    • By Cokibear123 6th Oct 17, 10:38 AM
    • 11 Posts
    • 0 Thanks
    Cokibear123
    Just had a phone call from the surveyors to arrange a day to come out. They are coming on Wednesday 11th October. I assume that this is a good sign??? We put our application in on Tuesday morning.
    • cashman82
    • By cashman82 6th Oct 17, 12:05 PM
    • 52 Posts
    • 10 Thanks
    cashman82
    Our buyers are using Precise through a broker.

    They did the survey 6 WEEKS ago and our buyers still don't have their mortgage offer yet

    The purchase of our next home is on the brink of collapse because of how slow they are...

    Are there no guidelines on maximum amount of time it should take? Seems they can take as long as they damn well please and sod the consequences for all the people involved.

    Does anyone speak with Precise directly or go via a broker? It seems the broker also doesn't really give a crap and I'd rather they go their info from the horses mouth than via a middle man.
    • budgie32
    • By budgie32 6th Oct 17, 12:29 PM
    • 3 Posts
    • 0 Thanks
    budgie32
    Just had a text from my broker - the offer is in the post

    My broker has been really good. She is quite annoyed at how slow they have been but its taken 6 weeks from full application to final offer including a 2 week delay whilst we waited for HMRC paperwork. It took me 2 days to get through to someone to pay the telegraphic transfer fee though - however the guy I spoke to was really helpful.

    The property purchase is £265k, we've borrowed £137k. Our broker has assured us that once the 2 years are up we'll go elsewhere for a much better deal
    Last edited by budgie32; 06-10-2017 at 12:32 PM.
    • Cokibear123
    • By Cokibear123 6th Oct 17, 1:31 PM
    • 11 Posts
    • 0 Thanks
    Cokibear123
    I’ve just heard from my broker requesting a couple of more payslips for my hubby as he is weekly paid and also for us to complete a debt consolidation form as we are borrowing extra to pay of debts so that we can go elsewhere in the future.

    Just been filling this in and so ready to go back to broker this evening
    • Laceygray
    • By Laceygray 6th Oct 17, 2:04 PM
    • 9 Posts
    • 0 Thanks
    Laceygray
    Our buyers are also using Precise.. they have been so slow.

    Its taken 7 weeks for them to get a mortgage offer through.

    We were supposed to exchange last monday when we were just advised because they are going through precise they need one of their approved solicitors to approve the contracts first before they will allow the exchange as their usual lawyer is not one of their approved so effectively usinf and paying 2 lawyers fees for the one sale. Its just a nightmate tbh.

    Our buyers are also getting VERY impatient and are very close to pulling out as the process is just a nightmare. If only you could quiz buyers about their plans for mortgage before accepting an offer or we would have picked one of our other offers!
    • EverythingIWant
    • By EverythingIWant 6th Oct 17, 4:37 PM
    • 32 Posts
    • 2 Thanks
    EverythingIWant
    Lacey people who are using precise have a hard enough time securing the mortgage, if people could cherry pick offers due to the mortgage provider imagine how much more difficult it would be for "us". It is hard enough.
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 9th Oct 17, 10:00 AM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    hi everyone


    everything sent off, all documents (around 30 of them) have been submitted. had a phone call from my builder on the weekend to say the house is ready on the 26th of this month so just over 2 weeks away. praying for an offer this week. also had to change solicitors due to precise not being on the panel for them. everything needs to happen pretty quickly now the next fortnight its been a long journey!
    • mchanot
    • By mchanot 9th Oct 17, 2:43 PM
    • 5 Posts
    • 0 Thanks
    mchanot
    Application In
    Finally received confirmation from Help to Buy - one address field was incorrect so had to be worked again and taken best part of 4 weeks just to get this far.

    Application has finally gone in (i believe our Broker did this on Friday) and now a waiting game. Can already assume payslips needs / bank statements (as DIP was almost a month ago). Also received a £11k payrise which should be seen as a positive but reading on this forum they may ask questions on increase , etc etc.

    As a novice, do i expect Precise to send me documents direct, and as for valuation will they come to me and ask me to pay them directly for the survey which is £630?
    • EverythingIWant
    • By EverythingIWant 9th Oct 17, 10:09 PM
    • 32 Posts
    • 2 Thanks
    EverythingIWant
    Mchanot, they will take the fee usually when the application is submitted by your broker, all communications will be between your broker and Precise. They will send you a letter confirming direct debit details though.
    • Doddy03
    • By Doddy03 9th Oct 17, 10:09 PM
    • 25 Posts
    • 42 Thanks
    Doddy03
    Our story is a bit complicated and long winded. We contacted a broker back in June as our existing mortgage was coming to the end of fixed term in October. Hubby had a default (no payments missed but minimum payment agreement not accepted so sent to third party). First broker said no way will you get a mortgage go down second charge route which would have been an additional £700 per month but he said only way. I contacted another Broker who originally placed us with another bank who kept changing the goal posts took valuation fee and then refused us. Full application sent to precise on Monday 18th September valuation booked for 27th and carried out. We valued property at £385,000 (to be safe) surveyor valued at £400,000. Mortgage offer received on Thursday 5th October. I believe we are tier four. I still keep thinking somethings going to go wrong. No idea if we've been lucky time wise or if our broker had everything from first application. Keep your fingers crossed for us please as still worried something will go wrong 😁
    • cashman82
    • By cashman82 10th Oct 17, 12:01 PM
    • 52 Posts
    • 10 Thanks
    cashman82
    Our buyers have said for weeks that it would be this week when really they didn't have a clue. We offered on our dream home thinking everything would be so easy and now we're at real risk of losing it because of this mortgage company who seem to ask for everything in dribs and drabs instead of all at once.

    Lacey, is that 7 weeks after a survey?? Our buyers seem to have been fartarsing around for way longer than that. I got impatient waiting for them to sort the survey out.
    • Laceygray
    • By Laceygray 11th Oct 17, 10:24 AM
    • 9 Posts
    • 0 Thanks
    Laceygray
    Hi... sorry i know everyones in the same situation & stressed out. Its just ao frustrating. No i think the offer came through to them about 3 weeks after the survery was done.

    We were thinking once the offer was in that will be us ready to go as my solicitor had already had all searches done and the title deeds sent over to the buyers solicitor.

    We were ready to exchange contracts and then were told because her lawyer isnt a preferred choice for precise they now have to wait on precise lawyer looking through all the details that have now been ready for 8 weeks and givig the go ahead for the contracts to be concluded.

    No one seems to know a timeline for this & before this was brought to light we had agreed the 19th of october to complete which is a week tomorrow.

    All the buyer keeps saying if that she has confidence in her lawyer to get it done by that date but what i dont think she understands is we cant exchange our contracts for our new house until this house is done which means shes got until tomorrow to get it done or the date will be getting pushed back for the 3rd time.

    So so frustrating.: its one hurdle after the other...
    • Cokibear123
    • By Cokibear123 11th Oct 17, 10:32 AM
    • 11 Posts
    • 0 Thanks
    Cokibear123
    The surveyors just been for our remortgage. He seemed to think everything is fine. Said he will get it typed up later on so hopefully will be with Precise tomorrow then the countdown starts again lol!!!

    Going to the brokers later with some more payslips that have been requested and this months bank statement. So it should all be ticking along at the same time.
    • cashman82
    • By cashman82 12th Oct 17, 12:01 PM
    • 52 Posts
    • 10 Thanks
    cashman82
    I believe our buyers are using an approved conveyancer (who also has !!!! poor ratings on review sites )

    But the supply of information is always "four more days" and we've told the people we're buying from this for weeks now and realistically, they're not going to put up with it much longer.
    • Laceygray
    • By Laceygray 12th Oct 17, 1:26 PM
    • 9 Posts
    • 0 Thanks
    Laceygray
    I feel your pain. We are in a very similar situation. The house were buying has been empty since end of July.. weve now had to move our completion date twice because they just cant seem to get things done.

    Ive told my solicitor today that if we dont at LEAST have a timescale for the missives to be concluded that we are growing too impatient and feel like their taking the !!!! (excuse the language) now so were talking about pulling out of the whole transaction and start looking for another buyer.

    Supposed to be completing next thursday and the solicitors wont even advise us of a timescale of when they can look over the details that have been sitting at their finger tips for 8 weeks now.

    Absolutely ridiculous
    • cashman82
    • By cashman82 12th Oct 17, 1:44 PM
    • 52 Posts
    • 10 Thanks
    cashman82
    I can't understand why there are no time limits? Or the whole convoluted conveyancing process needs to be brought more in line with elsewhere so that you don't get dicked about by shitty buyers who haven't got their finances sorted.

    In this day and age too, why isn't there some online tracking so this can be evidenced to people.

    It is really taking the !!!! and entire chains will collapse because of their attitude.

    We're buying in a really hot market and the people selling to us won't have any problems selling to someone else, it's just we are literally there with our paperwork, everything is done, mortgage is arranged so our buyers face another few months before they move if they go elsewhere. That's all I can cling to at the moment.

    I don't care who I sell my house to, I just want to move into my new one
    • mchanot
    • By mchanot 13th Oct 17, 10:22 AM
    • 5 Posts
    • 0 Thanks
    mchanot
    Waiting game
    Application been in a week now.

    Valuation money taken on Monday and yesterday our broker asked us to complete the application form (which is part of their basic requirements), so looks like we are just waiting longer. Bank statements and payslips are now over one month old so already have these ready to share
    • 1sttimebuyer1991
    • By 1sttimebuyer1991 13th Oct 17, 1:49 PM
    • 8 Posts
    • 0 Thanks
    1sttimebuyer1991
    GOT MY OFFER TODAY


    literally bouncing off the walls so happy!!!


    Application went off 22/09/17
    Valuation 28/09/17
    Offer 13/10/2017


    took exactly 3 weeks!
    a lot of stressing these last 4 months has been worth it all!


    completion date for my house is 2 weeks today so we have just made it!




    good luck everyone !!!!
    • Cokibear123
    • By Cokibear123 13th Oct 17, 2:02 PM
    • 11 Posts
    • 0 Thanks
    Cokibear123
    Woo hoo so happy for you!!!!
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