Precise Mortgages - how long from application to offer?

onthemend88

@gazzaroonie Where did you find out about the phonecall from Precise prior to completion? 

We are hoping to exchange within the next week or so with a completion date of the 17th July. 

Valacarno12

steele3790 said:

@Valacarno12
Did you put your application in and then get told you actually fell into tier 2? 

When we had the DIP we’d thought it was Tier 1, but was actually Tier 2. We haven’t been able to start our application yet as the product isn’t available still.

marsh19

Update 
application went in 28th May 
questions asked every day for 5 days 
valuation completed today.
just waiting for the offer.
good luck 

Valacarno12

marsh19 said:

Update 
application went in 28th May 
questions asked every day for 5 days 
valuation completed today.
just waiting for the offer.
good luck 

Good progress, what kind of questions did they ask? 

JoPea

@Valacarno12 how do you know what tier is we haven’t been told about any tier?

Valacarno12

JoPea said:

@Valacarno12 how do you know what tier is we haven’t been told about any tier?

Our mortgage broker advised us. Again, was confused as seemed to fit into criteria for “Tier 1”.

[Deleted User]

Applied online with London and Country last Friday, not heard anything except an automated acknowledgement email.

steele3790

Update from us 
Precise were happy with everything but not happy to lend until I have at least 3 months full pay. I am currently on furlough although my employer has set a threshold so I haven’t lost 20% as they are topping up wage to the threshold. I work in travel so Precise think the industry I’m in is to much of a risk for them to lend at the moment. Fingers crossed we can re apply in September when I have 3 months full pay. 

Valacarno12

Valacarno12 said:

JoPea said:

@Valacarno12 how do you know what tier is we haven’t been told about any tier?

Our mortgage broker advised us. Again, was confused as seemed to fit into criteria for “Tier 1”.

Some movement at last for us, we received our quote & request for all information today. We seemingly now do fit into the tiers current available. Now the stress really starts...

Tinojino

Hi everyone, it’s been really helpful reading this thread. We’re putting our application in to Precise tomorrow through our broker and I’m already dreading the wait for an answer. 

We’ve reserved a new build and are applying for the HTB. 

I keep seeing people talking about tiers. What do they tiers mean? I can’t find anything online. And why does it affect the application?