Precise Mortgages - how long from application to offer?

onthemend88

Finally, we have submitted our full application today! I am a bag of nerves/excitement all mixed together! 

*edited to add - full app wasnt actually submitted on the 18th Feb as we needed the ATP from HTB so full app submitted 25/2/20

Tee27

Cee81  Last Tuesday they said that the mortgage was approved subject to the valuation which happened today, so just waiting on the formal offer now. 
How are you getting on?

onthemend88

Hi @Tee27
 
We submitted our application yesterday - have Precise taken your valuation fee yet?

When did you apply with Precise?

Tee27

Hey @onthemend88 yeah our broker told them
not to instruct the valuation unless they were going to pass it. The full application went in on 3rd Feb. 

Kwood96

Hey! Im new on the thread! Application is hopefully going in today. We had DIP on Monday. They asked for another payslip off me and my husband and to sign the GDPR papers. Im so nervous its unreal. They said on the DIP that they  would lend to us with the understanding i will pay my credit card off in full within 30 days of completion which i can do. Found our perfect dream home new build. And weve got a gifted deposit i dont even know where to start 

onthemend88

Hi @Kwood96

Good luck! We submitted full app on Tuesday and Precise have come back today asking for a few more documents and we had to answer a few questions. 

They have instructed valuation (but not been given a date yet) so keeping everything crossed! 

ImThatGuy

Hey guys and girls
So the background. Me and the gf looking at new build, deposit paid for the house (refundable) and all paperwork going to Precise tomorrow. Her being the angel she is has perfect credit score, me being the party animal when i was 18 mashed credit cards partying and traveling and as such have a bad rating with a CCJ (was working away for a few weeks when it arrived). The CCJ was 3 years ago and paid straight away. Looking at a 99k mortage and have DIP so waiting game has started. Any military types that have been through this let me know! Bouncing 3 camps in 1 year is proving a bit of a pain in the rear. 

Valacarno12

First time poster, but would love thoughts of people who’ve been through the journey with Precise.

We’ve received our DIP from Precise at the weekend and reserved our new build property. We expect to go through the full application process from early April, and while my wife is jumping for joy I’m typically pessimistic. Move in date would be August at current schedule. 

A rough overview of our history & current situation is:
Salary: 72k Combined
Annual Bonus: 6K

Between us we have the following poor credit “stuff”:
-2 Defaults both over 3 years ago.
- 50% Credit Card Utilisation. 

- 2 Settled Payday loans taken out in 2012.
- 8K loan with no missed payments.

We’ve been offered £226,000.

I think I was so surprised to receive a DIP I’m refusing to believe it might happen. Has anyone had any experience with similar credit history not receiving an offer?

Also, at what point does proof of deposit need to be shared? 

Any support & guidance welcome.

EverythingIWant

Valacarno12 said:

First time poster, but would love thoughts of people who’ve been through the journey with Precise.

We’ve received our DIP from Precise at the weekend and reserved our new build property. We expect to go through the full application process from early April, and while my wife is jumping for joy I’m typically pessimistic. Move in date would be August at current schedule. 

A rough overview of our history & current situation is:
Salary: 72k Combined
Annual Bonus: 6K

Between us we have the following poor credit “stuff”:
-2 Defaults both over 3 years ago.
- 50% Credit Card Utilisation. 

- 2 Settled Payday loans taken out in 2012.
- 8K loan with no missed payments.

We’ve been offered £226,000.

I think I was so surprised to receive a DIP I’m refusing to believe it might happen. Has anyone had any experience with similar credit history not receiving an offer?

Also, at what point does proof of deposit need to be shared? 

Any support & guidance welcome.

I am surprised a high street lender wouldn’t accept you, you will be totally fine with precise you are probably the higher percentage of cleaner customers! 

onthemend88

My timeline so far:-

17/02/20 - DIP
18/02/20 - Mortgage Application completed, hard credit check (Experian), HTB Application Completed
24/02/20 - HTB Granted, Hard Credit Check performed from HTB Wales (Equifax), Authority to Proceed obtained
25/02/20 - Full Mortgage Application Submitted, Valuation Fee taken
27/02/20 - Further documents and info requested from Precise. Direct debit confirmation received via post.

• Signed Declaration
• Proof of ID needed to be countersigned by Broker
• Disclosure of Incentives
• A couple of questions (had we paid reservation deposit, confirmation of exchange and completion date, landline number)

Precise had instructed valuation but broker has told them to put this on hold until they have all the documents/info they need and the underwriter is happy. 

Just waiting now to see if Precise need anything else, which I am expecting they will.

Will keep you all updated.