Precise Mortgages.. application help

AK111_2

Hi All

Just going through the motions of a full applications with Precise Mortages. Anyone any ideas how long it takes to complete
We have had an offer accepted on the house and submitted our paperwork. My partner is self-employed so just waiting on his SA302's to be sent from HMRC and then we have sent all our documentation; 3 months bank statements for both, 3 months payslips for myself, P60 and years account for my partner, proof of deposit and proof of identity.
I have heard they can be a bit of a nightmare in terms of requesting further papework just wondering if anyone has had dealing and what they are liking to ask for so we can be prepared and speed the process up

Thanks

Former_MSE_Megan

AK111 wrote: »

Hi All

Just going through the motions of a full applications with Precise Mortages. Anyone any ideas how long it takes to complete
We have had an offer accepted on the house and submitted our paperwork. My partner is self-employed so just waiting on his SA302's to be sent from HMRC and then we have sent all our documentation; 3 months bank statements for both, 3 months payslips for myself, P60 and years account for my partner, proof of deposit and proof of identity.
I have heard they can be a bit of a nightmare in terms of requesting further papework just wondering if anyone has had dealing and what they are liking to ask for so we can be prepared and speed the process up

Thanks

Hi, Precise Mortgages have gotten in touch with us to send you this message on their behalf. Please remember that MSE does not endorse any messages from third party companies.

"If you contact your mortgage adviser they will be able to give you an update on your application. However, the current turnaround times as published on the Precise Mortgages website https://www.precisemortgages.co.uk website today state that Precise Mortgages are currently working on the below.
• applications that were submitted on 25th February
• post, emails and faxes from 25th February
• estimated time for valuation receipt is 6 working days"

Ddl158

My full mortgage application was submitted via a broker to precise on 27th feb and I spoke to the broker yesterday who said they will be taking the fees out of my bank today and that 99% of the underwriting has been completed and there seems to be no issues.
I haven't yet received my formal offer so here's hoping they don't request additional information as I have also heard that this can be quite time consuming.
Good luck!

Azed_Ashford

Hi All,

Started my application with Precise in April and has been one document after the other - fine tooth comb. I wish they requested as much documents in the beginning instead of coming back with one thing after the other. Still waiting for their offer. Struggling with possibility of the whole this falling through.

Any ideas what to do next. Response from Precise might be helpful.

LauraRyan29

We were advised to use Precise as my partner is a self employed contractor, he also has a default that is due off next month. We are trying to buy the house that we have rented for four years. My partner provided his tax return, accountant details etc that all came back fine. Precise has decided to pick on me. I am on Maternity leave which they originally said was not a problem. First they told us that a tax credits renewal letter was the last thing they needed (we have lost working tax credit this year so they needed to see that as 0) then the mortgage will be processed. After submitting that we were advised to pay the solicitors £250 to start the process. They have had since April from me: my P60, six months wage slips, my maternity confirmation letter from Tesco which states i still have my job and i am off got twelve months but if i go back before to notify my store manager. I only work two days a week so i get my maternity pay from the DWP, they have had that letter also and my bank statements to back it all up. Precise then came back and said they need a letter from Tesco confirming the date i started, my hours, my hourly rate and the date i am returning to work. My manager done this and emailed them. They have come back AGAIN and now said that store level is not good enough they need it from payroll. Tesco do not do this, the only thing they can offer is a reference. All the information they need is on my wage slips and in the letter from my manager. i have called them direct and explained this to them, offered every single wageslip since i have started, they wont budge. Half an hour after my phonecall the mortgage offer came through. The condition that the mortgage will go through is if the solicitors obtain this letter they want. The offer is only valid until October! I know they are picky but this is beyond. So our house would have fell through if we didn't have a understanding landlord. The mortgage is only for £68,000 we have a 15% deposit. So good luck anybody going with Precise you will need it!

Hardwork786

Hi made application to precise on 9th July, been back and forward requested more paperwork. Recieved full offer today 28th July. So 19 days from app to full offer,just be patient they check everything. ....

jrg84

Hi submitted full application to Precise on 9th July also. They started by asking for 3 months payslips, P60's and gifted deposit letter. Came back and said there was a line missing from the gifted deposit letter that my partner's mum would not be living in the property so had to re do that and send back. Did this on 14th July. We were then advised the rate had changed (lower which is great) but because of this they had to refund the valuation fee and then take it again as classed as new product. This was done on 21st July. Were waiting for a date for valuation then last Friday 24th July they confirmed valuation would take place 31st July (tomorrow)... thought we were at the final stretch but arrived home this evening to a letter requesting more documentation- mortgage statement for my flat and 3 months bank statements for us both!! This has been the most painful experience.. I have no problem supplying all of the documents they require it just would have been great if they had asked at the very beginning... anyway rant over will send these extra docs early next week and hope to get an offer soon after...fingers and toes crossed!