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  • FIRST POST
    • mchanot
    • By mchanot 22nd Sep 17, 8:39 AM
    • 8Posts
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    mchanot
    Precise Mortgages - Decision in Principle
    • #1
    • 22nd Sep 17, 8:39 AM
    Precise Mortgages - Decision in Principle 22nd Sep 17 at 8:39 AM
    Hi All
    My first post, my first mortgage.
    Long story short, previous poor credit rating, myself and wife. I have one default over two years ago. My wife has a fair few - all over two years ago.
    Application made via Broker for mortgage with Help to Buy - accepted in principle. Have put down deposit to secure new property and paid legal fees.
    Can anyone advise how their applications have gone with Precise, they are the only guys who can accept us. I've just received a £10k payrise WEF 1st October, which is more than my wife earns. We have a large deposit and the loan to value is under 65%. Just nervous as everything hinges with this lender.
Page 1
    • Time2go
    • By Time2go 22nd Sep 17, 9:51 AM
    • 198 Posts
    • 44 Thanks
    Time2go
    • #2
    • 22nd Sep 17, 9:51 AM
    • #2
    • 22nd Sep 17, 9:51 AM
    There is a great thread on here which gives normal experience . I applied myself nearly two weeks ago with htb.

    Average seems to be 4 weeks.
    • Lilla D
    • By Lilla D 23rd Sep 17, 12:55 AM
    • 316 Posts
    • 161 Thanks
    Lilla D
    • #3
    • 23rd Sep 17, 12:55 AM
    • #3
    • 23rd Sep 17, 12:55 AM
    Just done a mortgage with Precise for a couple where there were defaults registered over 2 years ago - took a bit of time due to the company involved in one of the defaults, but eventually got there. As long as the broker checked the criteria, affordability, etc., I'm sure you'll get there too
    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.
    • charandkai
    • By charandkai 2nd Oct 17, 2:50 PM
    • 2 Posts
    • 0 Thanks
    charandkai
    • #4
    • 2nd Oct 17, 2:50 PM
    • #4
    • 2nd Oct 17, 2:50 PM
    Our original mortgage application was with Halifax. They rejected, then rejected our Appeal, so now we're waiting on news from Precise. (We don't have bad credit, never missed any payments or anything, we're just self employed and Halifax wanted another years' books before even considering lending).

    The application for Precise went in at the end of August. So this is week 6... it doesn't help that they've have a 5 day turn around which slows things down a lot! We had the valuation a couple of weeks ago and posted the last things they asked for today, so fingers crossed next week or the end of this week we get a decision.
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