Precise Mortgages - how long from application to offer?

Dreamshaq

How did it all go?



We had the offer sent that back already, but waiting for the mortgage deeds to sign and be witnessed, anyone have an idea how long does it take to get these?



We are part exchanging our home for the new one, just found out our house is sold also


Good luck everyone

Kaggs!

Omg gk2007! That’s brill hope all went ok!

Kaggs!

Dreamshaq we didn’t wait long maybe a week :-)

Ginga16

PRECISE MORTGAGES Quick update......
DIP - 27.06.19
Offer accepted on our current and new home - 10.07.19
Full application - 11.07.19
Credit checked and valuation payment - 11.07.19
Request for further info - 16.07.19
,•Signed declaration
•Landline?
•Copy of Home Report for possible re-type of valuation.
•Is DMP in joint names?
•Solicitor offer to show equity to pay for deposit and clear DMP on completion
Statement of DMP showing reference and previous 12 months payments made on time (provides 5yrs worth) as DMP has been running since 2014 with only 1 year left but this will be cleared from funds of house sale.

Broker said I should hear back in a couple of days. The wait is killing me - anyone been in similar situation and had mortgage offer after providing all the info?

Renegadecrab

Ginga16 wrote: »

PRECISE MORTGAGES Quick update......
DIP - 27.06.19
Offer accepted on our current and new home - 10.07.19
Full application - 11.07.19
Credit checked and valuation payment - 11.07.19
Request for further info - 16.07.19
,•Signed declaration
•Landline?
•Copy of Home Report for possible re-type of valuation.
•Is DMP in joint names?
•Solicitor offer to show equity to pay for deposit and clear DMP on completion
Statement of DMP showing reference and previous 12 months payments made on time (provides 5yrs worth) as DMP has been running since 2014 with only 1 year left but this will be cleared from funds of house sale.

Broker said I should hear back in a couple of days. The wait is killing me - anyone been in similar situation and had mortgage offer after providing all the info?

Hello!

Regarding your situation, other than being in a DMP can I ask if you had any specific adverse when you applied such as defaults and/or CCJ's?

Kind regards

Lee

Ginga16

Hi Lee

We do have defaults from 5yrs ago when the DMP 1st started but no CCJ's

Heard back today Precise are ready to instruct surveyor for valuation. Don't think my nerves can take anymore.

Have you applied?

Bozzer89

Hi guys so Ive read through this whole post tonight as I needed information

Me and partner have both got crappy credit but we've been to see the mortgage advisor who went through everything with us and low and behold we gotva MIP(me and my partner didn't think we would even get that far)

We are going for a new build and the house 140k so only lending of 105kish

Sent all documents to broker
P60s
Bank states
Wage slips
And gifted deposit paperwork.

The broker is putting full application through tomorrow

After reading this post I feel even more scared as we both have credit cards etc paying back monthly as always no defaults etc in the last 3 years.

What do you guys think our chances are please.???

Ginga16

Can't believe I'm writing this but we got our mortgage offer today!!!! 15 days from application to offer with only 1 request for info!
Now to start the packing!

Bozzer89

Congrats ginga can I ask what your circumstances were like ?

Ginga16

Sure @Bozzer89, we've been paying a DMP since 2014 started with £60k debt and have a balance of £10k with a year left to pay. Decided to look into adverse credit mortgages a couple of months back since we have enough equity in our current property to clear outstanding DMP plus but down 15% deposit on our new place and gives us £30k in the bank!!!
Timeline:
27.06.19 - DIP with Precise
08.07.19 - put our house on market
10.07.19 - sold our house and offer accepted on our new place
11.07.19 - full application to Precise
16.07.19 - Precise asked for some further info - sent back same day.
18.07.19 - Precise happy with docs and valuation instructed
23.07.19 - valuation complete
24.07.19 - Precise happy with valuation and case being assessed
26.07.19 - offer received :j:j:j

Before application I provided my broker with soooo much documentation which I think helped speed up my experience in the long run. This forum showed me the types of docs they may ask for so I got them ready and scanned everything through.

We never thought we'd be able to move while our DMP was still outstanding but this has given us the break we needed. We have never missed a mortgage payment since we got our 1st house in 2003 and since DMP started we have paid every month on time. We just needed someone to take a common sense approach to us and see we are financially stable now. Precise have done just that and allow us to move to our Forever Family Home.
It can be done! X