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  • FIRST POST
    • Ellie543
    • By Ellie543 1st Sep 17, 2:56 PM
    • 6Posts
    • 1Thanks
    Ellie543
    Precise mortgage application FTB
    • #1
    • 1st Sep 17, 2:56 PM
    Precise mortgage application FTB 1st Sep 17 at 2:56 PM
    Really nervous! We applied for a mortgage with NatWest and despite the branch manager promising all would be OK we were gutted when we got declined.

    Our MA has applied at precise today and was wondering if anyone knew how long this would take? We don't have bad credit as such no ccjs or defaults just gone over our overdraft by around £50 twice last year, have a student loan and a couple of credits cards that are well within limit. So nervous!
Page 1
    • kingstreet
    • By kingstreet 1st Sep 17, 3:01 PM
    • 32,207 Posts
    • 17,249 Thanks
    kingstreet
    • #2
    • 1st Sep 17, 3:01 PM
    • #2
    • 1st Sep 17, 3:01 PM
    Really nervous! We applied for a mortgage with NatWest and despite the branch manager promising all would be OK we were gutted when we got declined.

    Our MA has applied at precise today and was wondering if anyone knew how long this would take? We don't have bad credit as such no ccjs or defaults just gone over our overdraft by around £50 twice last year, have a student loan and a couple of credits cards that are well within limit. So nervous!
    Originally posted by Ellie543
    Precise for that?

    Sounds like a sledgehammer to crack a nut. What's your broker's background as you sound like a high street candidate, maybe just not one in every town? Non-credit scoring lenders are out there with much better rates than Precise.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • Ellie543
    • By Ellie543 1st Sep 17, 3:14 PM
    • 6 Posts
    • 1 Thanks
    Ellie543
    • #3
    • 1st Sep 17, 3:14 PM
    • #3
    • 1st Sep 17, 3:14 PM
    My OH's credit score is low but there is no real reason as to why think it might just be high unsecured debt so we didn't want to risk getting declined by another lender and affecting our credit scores further. The MA was recommended to us by the builders
    • Time2go
    • By Time2go 1st Sep 17, 3:31 PM
    • 183 Posts
    • 40 Thanks
    Time2go
    • #4
    • 1st Sep 17, 3:31 PM
    • #4
    • 1st Sep 17, 3:31 PM
    Following this page regularly for last two years four weeks seems about timing for precise as every time they want more info they take four days to progress it
    • Thrugelmir
    • By Thrugelmir 1st Sep 17, 5:17 PM
    • 55,824 Posts
    • 49,191 Thanks
    Thrugelmir
    • #5
    • 1st Sep 17, 5:17 PM
    • #5
    • 1st Sep 17, 5:17 PM
    How much do you owe in unsecured credit?

    What deposit are you putting down on the new property?
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • Ellie543
    • By Ellie543 1st Sep 17, 6:25 PM
    • 6 Posts
    • 1 Thanks
    Ellie543
    • #6
    • 1st Sep 17, 6:25 PM
    • #6
    • 1st Sep 17, 6:25 PM
    Owe about 5k in unsecured and 25% deposit help to buy
    • ljlondon84
    • By ljlondon84 14th Sep 17, 2:13 PM
    • 2 Posts
    • 0 Thanks
    ljlondon84
    • #7
    • 14th Sep 17, 2:13 PM
    Precise Mortgage Application
    • #7
    • 14th Sep 17, 2:13 PM
    We have sent in our Application last week and they have requested more documents. Every time you add paperwork to your application they place you back 4 days. I am so nervous because this is our last chance. Good luck everyone
    • ACG
    • By ACG 14th Sep 17, 2:36 PM
    • 15,762 Posts
    • 8,058 Thanks
    ACG
    • #8
    • 14th Sep 17, 2:36 PM
    • #8
    • 14th Sep 17, 2:36 PM
    Precise for that?

    Sounds like a sledgehammer to crack a nut.
    Originally posted by kingstreet
    That was my thought.
    Jesus! I have placed people with defaults and arrears on the high street, 2 x 1 markers on a credit report is not precise territory.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
    • Time2go
    • By Time2go 14th Sep 17, 3:00 PM
    • 183 Posts
    • 40 Thanks
    Time2go
    • #9
    • 14th Sep 17, 3:00 PM
    • #9
    • 14th Sep 17, 3:00 PM
    Ljlondon their is an excellent precise thread further up to help us keep sane
    • ljlondon84
    • By ljlondon84 24th Sep 17, 4:56 PM
    • 2 Posts
    • 0 Thanks
    ljlondon84
    How are you getting on?
    We've had a few queries rOn our bank statements but still waiting.... y
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