Precise mortgages success stories!

[Deleted User]

We will hopefully be putting in our full application to Precise through our broker in the next week (we are just waiting for our vendor to find a place). We have an AIP for roughly £50k more than the property we have had an offer accepted on.

I have an adverse credit history including payday loans and defaults (one in the last 6 months), but our broker has advised I meet Precise's criteria and we have the AIP. My partner's credit history is squeaky clean, thankfully. I suppose I'm just looking to hear from some success stories as I'm already getting myself in a tizz that we'll be declined and we haven't even applied yet!

I realise every applicant is different etc, but I'm just looking to calm myself down as I know we can't apply yet and I know that what will be will be! So some positive stories would be appreciated.

Liverlad67

I have a default ccj on my file settled and both five years old. Going via broker for mortgage. Precise on my radar as they seem to be acceptable to my history. They do need min of %15 deposit. Interest rate 1% more than high street but small price to pay for being on the naughty step for six years lol. On their site they have tiered mortgages according to your circumstances hope you get accepted will be watching your thread

ACG

Ive got a few. Not my favourite of lenders but they have their place.

[Deleted User]

Thanks. I realise they are the last chance saloon but happy to pay my dues with the 15% deposit and higher interest rate for a couple of years- I am a high risk borrower, after all. Just hoping the underwriter doesn't decide they don't like the look of me! We've been upfront about all my past mishaps and the AIP is offering quite a bit more than we actually intend to spend, so hoping against hope that they accept us.

EShepherd

Hello
We have recently completed on a house and our mortgage is with precise. To be honest the whole process was very straight forward. I had two defaults, both settled and for low amounts. We got the mortgage offer very quickly.


Our mortgage rate was not that bad, we were the lowest tier. We went fixed rate for 2 years. We had a 15% deposit.


Good luck!

prancer77

QQ - Does anyone know if Precise accept sole applications if married? I can't see it mentioned on their lending criteria but might have missed it.

ACG

They never used to. I doubt that has changed but around 18 months ago I did ask that question.

[Deleted User]

I don't think they do, we asked the question as well as my husband's history is squeaky clean.

Thanks for the positive stories, good to know it's generally more yeses and than nos! Can anyone advise on what their scoring system is for the AIP- do they soft search, and with who? And who do they score with for the final application? I don't have anything to hide, but just curious.

jrg84

They use experian for aip soft search and both experian and equifax for the full application search... stay calm although mine was a decline most people seem to have success with precise so good luck :-)

Luckily

I am a bit late in this thread, but I am applying for a mortgage with precise too. Mortgage Broker submitted full aplication 2 days ago, and I have an alert of my Credit Expert letting me know they have performed a full check, plus valuation money has been taken by then. I have not heard back from Mortgage People so not sure if all I mentioned is a sign of approval. Thanks

amnblog

prancer77 wrote: »

QQ - Does anyone know if Precise accept sole applications if married? I can't see it mentioned on their lending criteria but might have missed it.

Not they don't.

Specialist Lenders don't like single applications from married applicants generally.