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Precise Mortgages - how long from application to offer?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1.8K replies 260.9K views
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Replies

  • phil22phil22 Forumite
    142 Posts
    Well weve been asked for a bank preoof of address the ones we sent as they were printouts were no good, so by the time the bank send out to us a statement then we submit it, it will then take another 4 working days, were looking at the end of next week! I am fuming i cant take this its awful and i was all geared up ready as our broker told us we would hear today, its a joke!!!!
  • abi34abi34 Forumite
    26 Posts
    Hi Phil,

    Sorry to hear about this! What do you mean by print out ? Did you get them printed in branch ? And stamped from bank or did you just print them out online yourself ? You Go into branch and get it printed and stamped same day ? ? .. arrggh you must be annoyed because every time they request document a week just goes by . Were into our sixth week since application and we so anxious , they happy with everything we sent just my p60 from previous Employment which they should look at this Friday i hope . I'm just being patient now and waiting . Hope they don't ask for any more documents . Good luck to you all!
    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each".. ;):cool:
  • phil22phil22 Forumite
    142 Posts
    :( we went in branch and they printed them out.
  • Linzi987Linzi987 Forumite
    17 Posts
    That's awful!! I am nervous and think we're going to get that too as we sent bank print outs and a print out copy of the council tax but all print outs! Eek!! Dragging out, but the only positives I can think is, would they do all this then decline us all?
  • phil22phil22 Forumite
    142 Posts
    I know i felt positive as i just cant be bothered today now haha, iv read people go through all this then have been declined though thats what worries me but now i just think im sure there was a reason maybe they didnt declare everything ?
  • abi34abi34 Forumite
    26 Posts
    Hi,

    I know someone who has been turned down because they didn't have much savings left over after putting deposit on property . The problem is lenders think that you have no backup if you fall behind with payments , my advise would be to have a minimum of 5 k at least sitting there for backup etc .. looks very good to lenders as your showing your really wise with your money and spending habits . I'm surprised Phil why they didn't accept statements printed from bank . We didn't have any issues like that. Those who are waiting and are being asked loads of documents see us as high risk , and those who get quick offers. They overall have everything pretty much stable i.e big deposit , defaults that are den Few years old , stable jobs longer than 2 years, electoral role over 3 years, up to date since default with payments . No loans or outstanding credit cards, high income , means affordability is not a problem. All in all the underwriter just gives them offer much quicker because they don't need further documentations etc.
    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each".. ;):cool:
  • Linzi987Linzi987 Forumite
    17 Posts
    Well I can't believe I am writing this.... We have the mortgage offer!!! It will be sent out in writing and we should get it early next week! I am in shock!
  • habssachabssac Forumite
    269 Posts
    We had a great experience with Precise in Jan/Feb time, it felt like an age but in actuality was 3 weeks from application to offer, they were so helpful and friendly even when our first property fell through and they had to change things.

    You can check what date they are working on here, it's updated every day- http://www.precisemortgages.co.uk/Residential
  • abi34abi34 Forumite
    26 Posts
    Hi. Linz .. congratulation I'm so happy for you 🎉🎉 so how long was it from application to offer ? Thanks:beer:
    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each".. ;):cool:
  • Linzi987Linzi987 Forumite
    17 Posts
    Thank you, just looked at dates and emails and not as long as it seemed, 1
    Month to the day as the brokers office didn't send it on the correct day and then didn't get sent till the Monday so 4/7- 4/8! Just more documents each week sent, so in total they had - 6 months bank statements, 7 months pay slips, proof of address for the last 4 years, p60 for this year, proof of deposit with was on gifted letters addressed to whom it may concern, ID and proof of rent for the last two years. :j
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