Precise Mortgages?

zak74

Anyone used this company? Through a financial advisor we put in a mortgage offer 2 months ago. it was accepted subject to valuation then they came back with a whole list of things they wanted. We provided these documents last Monday and have been told today they require further information. our entry date for our house is Friday 28th June. I have just about had enough with the company and our financial advisor and wondering whether to stick with it or see if we can find another mortgage. My husband had 2 defaults totalling £500 which he satisfied in 2011 which is why we were told we could only get a near prime mortgage. RBS said no due to adverse credit.

ACG

There are other lenders, precise can be hit or miss. But if you havnt had a mortgage offer yet - has the legal work been done? If not i think you are cutting it very fine as to whether it will be done by the 28th.

Is it the brokers fault or the lenders? No point being annoyed at them both if its only one of their faults (easier said than done i know).

zak74

ACG wrote: »

There are other lenders, precise can be hit or miss. But if you havnt had a mortgage offer yet - has the legal work been done? If not i think you are cutting it very fine as to whether it will be done by the 28th.

Is it the brokers fault or the lenders? No point being annoyed at them both if its only one of their faults (easier said than done i know).

only the start of the legal work has been done. Our FA seems to be working for the broker who have arranged through Precise. am I able to contact Precise direct?

ACG

FA working for the broker? Do you mean the estate agent?
Estate agent brokers are not really the best advisors - tend to be poor quality.

Im not sure if precise will speak to you - its worth a call though if you think it will help.

zak74

ACG wrote: »

FA working for the broker? Do you mean the estate agent?
Estate agent brokers are not really the best advisors - tend to be poor quality.

Im not sure if precise will speak to you - its worth a call though if you think it will help.

I think the FA is part of the mortgage broker group, they are called Sesame Hall

ACG

Sesame bankhall? Theyre a network, the advisor will be paying them a fee to ensure everything they do is compliant.

Effectively you have: The FSA/FCA - then -> Sesame Bankhall - then -> Your advisor.

Your advisor will not be working for Sesame, he will be paying them to do a job for him.

Either way, there are times lenders play stupid games and it reflects badly on the broker but there are times you have an inept broker so i wouldnt want to put the blame on anyone until i knew more.

Either way, with where you are in the process its probably worth sticking with Precise as otherwise you will be hard pushed to get everything through by the 28th if you move lenders.

gilly33

I'm just about to put in an application with Precise for the same reason. I'd be very interested to know if there are other lenders out there that look at adverse credit. So far I've only been offered Precise.

ACG

There are plenty of adverse lenders around, its a case of finding one that will accept your circumstance.

Precise as a whole are not bad, you cant judge it by just one persons experience otherwise you would never deal with any company. I could give you the names of 4-5 of my own clients who have mortgages with Precise and are completely satisfied with them.

kingstreet

Does the adverse show on all three versions of his credit files?

gilly33

Mine was a CCJ and shows up just on Call Credit and Equifax.

kingstreet

gilly33 wrote: »

Mine was a CCJ and shows up just on Call Credit and Equifax.

I would consider applying to a high street lender which only uses Experian. You may not have to go off the high street just yet. A broker would be able to help with lender selection.