Precise Mortgages?

zak74

ACG wrote: »

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.

Is it normal to be told you have the offer then they ask twice for additional information. They are looking for bank statements from my husband from 2010 to 2011 which we just don't have. We got branch ones but they are now saying they won't accept them. We received a letter from precise confirming our direct debit details should our offer be completed. I thought that was a bit strange

Dave_Ham

Often when you are dealing in sub prime territory (and I do all day, every day) no information/details is a red rag to an adverse lender.

If they cannot see and touch you (or your joint applicant) for a period of time, they understandably worry about what you were up to and what may be recorded elsewhere.

I would imagine your Husband was not on the Electoral Roll and therefore they need confirmation of residing where you stated. Typically the best place to achieve this is the bank, as they can request back dated statements which will suffice.

We do not deal often with Precise, but this is more about their rates than service. With a good knowledge of the marketplace, typically there are other lenders that would potentially accept many situations that are better priced (and probably quicker) than Precise.

Back to OP, you have no option in my opinion than see this out with Precise as incredibly unlikely to get an offer from another lender in this timeframe, unless the timeframe is just someone spouting up the chain and you can stretch this out..

zak74

Dave_Ham wrote: »

Often when you are dealing in sub prime territory (and I do all day, every day) no information/details is a red rag to an adverse lender.

If they cannot see and touch you (or your joint applicant) for a period of time, they understandably worry about what you were up to and what may be recorded elsewhere.

I would imagine your Husband was not on the Electoral Roll and therefore they need confirmation of residing where you stated. Typically the best place to achieve this is the bank, as they can request back dated statements which will suffice.

We do not deal often with Precise, but this is more about their rates than service. With a good knowledge of the marketplace, typically there are other lenders that would potentially accept many situations that are better priced (and probably quicker) than Precise.

Back to OP, you have no option in my opinion than see this out with Precise as incredibly unlikely to get an offer from another lender in this timeframe, unless the timeframe is just someone spouting up the chain and you can stretch this out..

Thanks for your reply. The only thing my husband still has is P60s from that address. We were told they wouldn't accept these. He lived with his mum for this period and did not add himself to the voters roll nor did he pay any utility bills etc. Our FA had checked with them and they advised they would accept branch statements as long as they had his address on them and were stamped and signed by branch staff. This is what we got and they are now saying they are unacceptable as their are internet banking statements.

Our sellers are not in a chain so we could with their permission, push back our entry date

Dave_Ham

What bank does he bank with?

Most banks can request the paper copies of the bank statements that were previously sent out. Some do charge for this though...

zak74

He banks with the Bank of Scotland. I got the statements printed in the branch

Dave_Ham

Bank Of Scotland can request old printed copies to be sent out in branch.

They are sent out from their service centre and can take 7 working days.

Would go back into branch.

Typically they should charge £10 a statement (I think) although they rarely do from distant memory.

djb1979

zak74 wrote: »

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.

Did this work out for you? I am in the exact situation.

David

staceybaby1710

Hi David, have a look on the other Precise Thread. This may also help you.

Regards

rk2014

Hi Zak & David,

Did this work out for you - did precise make you a mortgage offer?

I have just applied via a FA to precise

deposit 170k
mortgage 390k
house value 560k
joint income 110l

Although i operate as a ltd company and turnover 150k

wife has perfect credit and already has a flat

I have a few defaults all dating to 2010 as this was when i was made redundant. We are both 30...

FA said should be fine

Just wondering what my chances are we were approved for DIP

rk2014

Can anyone help on dealings with Precise Mortgages?