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  • FIRST POST
    • Lyndseyjack
    • By Lyndseyjack 13th Oct 16, 5:19 PM
    • 16Posts
    • 9Thanks
    Lyndseyjack
    Precise mortgages decline
    • #1
    • 13th Oct 16, 5:19 PM
    Precise mortgages decline 13th Oct 16 at 5:19 PM
    Hello,

    Looking for some advice please.

    Our story so far with Precise. LTV 75%. Combined income 52K. Mortgage 127000. 2 defaults on my account dating 3 and 2 months years old and 5 years old. Clean sheet with no missed payments for 3 years. Only debt 8.5k loan from my husband. AIP obtained and passed all affordability.

    Full application submitted through a broker on 30/9/16.
    Full credit checks done and valuation fee taken the same day.

    On the 7/10/16 precise refunded our valuation and declined our application due to a recent default.

    After talking to our broker and explaining there definitely was no default they asked for copies for both myself and husband. They agreed after looking through them that the last default registered was over 3 years ago and settled. They plan to appeal the decision.

    Is it likely if they've made a mistake that this would turn it around in our favour. Absolutley devastated that we could lose the house we want so much over an error.

    Any advice welcome.
Page 2
    • Neliltsylor5
    • By Neliltsylor5 18th Oct 16, 11:01 PM
    • 6 Posts
    • 1 Thanks
    Neliltsylor5
    Go with Halifax or someone like that you will be surprised as they don't always credit score, good luck and remember by going with sub prime they will think you are already a bad debtor , high street lenders are defo not that unapproachable
    • ap1985
    • By ap1985 19th Oct 16, 9:32 AM
    • 256 Posts
    • 101 Thanks
    ap1985
    As majority have recommended, I would also suggest trying a high street lender. I was initially using a broker who tried with Halifax and I was declined an AIP. I then moved to another broker who also tried with Halifax and I got accepted and now have exchanged on a property....
    Finally going to be a homeowner
    • Neliltsylor5
    • By Neliltsylor5 19th Oct 16, 4:30 PM
    • 6 Posts
    • 1 Thanks
    Neliltsylor5
    Yep to all those thinking no main stream lender will help then at least try and speak direct to them or via a broker

    You will save yourself thousands and have a decision in a few days rather than weeks

    It's always worth a try , sincere good luck if your waiting and worrying
    • Lyndseyjack
    • By Lyndseyjack 21st Oct 16, 11:28 AM
    • 16 Posts
    • 9 Thanks
    Lyndseyjack
    Well we were declined by halifax DIP so decided to give Aldermore a go as out broker seems to think every thing will go through fine.

    Our case is slightly more complicated due to having 2 lease cars. one in which we get for a friend using my husbands scheme through work. Both cars come off his payslip and friend pays into bank. Mortgage companies won't take this income into consideration... nightmare.

    Anyway so far our application went in with Aldermore on Monday. They did a hard search on our credit files the same day. They then asked for some clarification on my income. Salary increased only 2 months ago. This was all sorted and valuation booked for this Monday. They've been so quick. I was expecting us to have to wait weeks. Really impressed so far.

    We got an OK rate with free valuation so saved some money ��
    • Neliltsylor5
    • By Neliltsylor5 21st Oct 16, 12:16 PM
    • 6 Posts
    • 1 Thanks
    Neliltsylor5
    That all sounds promising . Hope your offer comes through soon
    • Lyndseyjack
    • By Lyndseyjack 24th Oct 16, 7:41 PM
    • 16 Posts
    • 9 Thanks
    Lyndseyjack
    Well valuation was carried out this afternoon. Anyone know how long it takes from now to either get an offer of decline? I have everything crossed.
    • Lyndseyjack
    • By Lyndseyjack 27th Oct 16, 12:54 PM
    • 16 Posts
    • 9 Thanks
    Lyndseyjack
    We got our mortgage offer!!!!!! Still can't quite believe it
    • ap1985
    • By ap1985 28th Oct 16, 10:09 AM
    • 256 Posts
    • 101 Thanks
    ap1985
    Congratulations Lyndsey
    Finally going to be a homeowner
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