Precise Mortgages - how long from application to offer?

homelyhome4

Hey @jobo13 yes I got a call from broker valuation went as expected, so that’s good. Just waiting on final checks and offer now. Fingers crossed it will be mon/tues. Hope your valuation goes well on Monday 👍🏽😊

homelyhome4

Hi all we got our offer this morning!!!! Yay
Wishing you all the best 🤗

Tinojino

homelyhome4 said:

Hi all we got our offer this morning!!!! Yay
Wishing you all the best 🤗

Amazing! Congratulations! 

jobo13

homelyhome4 said:

Hi all we got our offer this morning!!!! Yay
Wishing you all the best 🤗

Yaaayyyy amazing news! 

JRG_4

Valacarno12 said:

We’ve been told today unless house is built by 31st December we can’t use Help to Buy. Current aim is to complete in December so absolutely touch and go. 

Really disappointing as the builders don’t sound too hopeful.

gutted as things were progressing. 

Hi,
I know i've seen online that the scheme is running from March 2021 for FTB's only. Is the December 2020 cut off point for everyone or is this just for people that aren't first time buyers? We are putting in an application for the equity loan but our house won't be built until Feb 2021. I'm now worried this won't go through.

Kolacat

homelyhome4 said:

Hi all we got our offer this morning!!!! Yay
Wishing you all the best 🤗

Yay great news!! Congratulations! Enjoy your new home 

Bex_27

Hi all, I have been reading this thread and wanted just see if anyone had been in a similar position to us.
Last default payment was 3 years ago. My credit score is poor and my partner is fair. We have 5% mortgage and we also will be using Help to Buy, so our mortgage is around £175,000. We have had some late payments but all been settled. I have an overdraft that I am currently paying off and we also have a loan which we are going to pay off (£3.5k) next month. When we have done that we are going to apply for a mortgage through precise as advised by our MA. My MA seems to think we will be ok with Precise as we do have a combined income of over £60k plus a bonus on there. We also have a good gifted deposit of 5% and we will have about £3k available for fees etc. 
What are your experiences of Precise? What was your position? I am so nervous because of my credit score. I was a silly student who is now paying for it.
Thanks in advance
B

jobo13

Hi all! We got our offer today! I am absolutely ecstatic. Timeline is below for anyone interested (seeing these from other posters really helped me get through the weeks):
12th june: DIP, new build reserved
18th june: application completed
23rd june: due to covid, application submitted and valuation fee paid
1st july: request for more info (not much at all! I needed to sign my passport and request for letter to state that both incomes were unaffected by covid)
13th july: valuation instructed
20th july: valuation completed 
22nd july: offer received!

I must admit... this is the most stressed I have EVER been but looking back, the whole process has been super smooth.. broker and Precise both fantastic. Good luck everyone ❤

jobo13

Bex_27 said:

Hi all, I have been reading this thread and wanted just see if anyone had been in a similar position to us.
Last default payment was 3 years ago. My credit score is poor and my partner is fair. We have 5% mortgage and we also will be using Help to Buy, so our mortgage is around £175,000. We have had some late payments but all been settled. I have an overdraft that I am currently paying off and we also have a loan which we are going to pay off (£3.5k) next month. When we have done that we are going to apply for a mortgage through precise as advised by our MA. My MA seems to think we will be ok with Precise as we do have a combined income of over £60k plus a bonus on there. We also have a good gifted deposit of 5% and we will have about £3k available for fees etc. 
What are your experiences of Precise? What was your position? I am so nervous because of my credit score. I was a silly student who is now paying for it.
Thanks in advance
B

Hi,
I think you will be OK. We are in very similar position and just had our offer today. Mortgage very similar amount, very similar income. My credit score is poor, husband's is fair. Defaults from 2+ years ago. We don't have any loans or overdrafts but I don't think you'll struggle if you're paying them off.
Good luck!!

Kolacat

jobo13 said:

Hi all! We got our offer today! I am absolutely ecstatic. Timeline is below for anyone interested (seeing these from other posters really helped me get through the weeks):
12th june: DIP, new build reserved
18th june: application completed
23rd june: due to covid, application submitted and valuation fee paid
1st july: request for more info (not much at all! I needed to sign my passport and request for letter to state that both incomes were unaffected by covid)
13th july: valuation instructed
20th july: valuation completed 
22nd july: offer received!

I must admit... this is the most stressed I have EVER been but looking back, the whole process has been super smooth.. broker and Precise both fantastic. Good luck everyone ❤

Yay great news. So pleased for you!
8 weeks tomorrow for us so really hoping we get some news this week!