Precise Mortgages - how long from application to offer?

xbinxycatx

onthemend88 said:

xbinxycatx said:

@onthemend88 - I was told to expect a call by my solicitor and broker but didn't actually get one. 
Funds were released around 11am and i had completed by 12pm .
i cant see that another credit check was completed either, welcome letter arrived at my new home the day after just detailing my first payment date etc

Was pretty straight forward - i was super nervous as i was a FTB at the bottom of a chain but it went well

Thank you I bet it is such an amazing feeling now that the house buying process is over. We are FTB with no chain buying a new build but so nervous! Just out of interest, how long will it be before Precise take your first payment?

I completed on the 24th July and first payment is 24th August ... I officially move in this weekend and I’m beyond excited . 

After living in a flat for 8 years and now a house I can’t wait to “go upstairs” to bed.. it’s the small things 😂

mortgagetakingages

Anyone here achieve a mortgage with precise with outstanding defaults? Their criteria states no defaults/ccj in last 2 years but I can't see anywhere any mention about how many over 24 months and if they need to be satisfied!

onthemend88

mortgagetakingages said:

Anyone here achieve a mortgage with precise with outstanding defaults? Their criteria states no defaults/ccj in last 2 years but I can't see anywhere any mention about how many over 24 months and if they need to be satisfied!

They may ask you to explain the defaults and why they have not been settled, especially if you have got a deposit together.  

It would look better if you paid them but there have been many people on this thread with unsettled defaults and CCJ'S who have managed to get a mortgage offer. 

However, covid has meant tighter lending criteria so even if you haven't got defaults within 24 months, they could say that they as part of your mortgage conditions, you have to settle some/all of the defaults. 

All of our debts were over 24 months old when we applied and we did settle our defaults and ccj's prior to applying for a mortgage. We managed to negotiate with our debtors partial settlement figures (in some cases this was 50-90% of the balance being wiped) and even though they show as partially settled on our credit reports, it meant we had 0 balances.

How many defaults do you have and how much is outstanding on them? Could you maybe consider offering partial payments to your debtors? 

Bex_27

Has anyone got a mortgage with missed payments within the last 2 years? I noticed a missed payment from Sept 2018 that I am disputing as the record from Ratesetter says it was paid. I also have 3 silly missed payments for £20 in Sept and November 2019 from Shop Direct. I am now worried that these silly mistakes will jeopardise everything.

onthemend88

Just had our pre-completions phonecall from Precise just to confirm no change to our circumstances! Eekk I am like a bag of nerves!! 

Kathryn1988

Hi all, 
I am hoping you can help... I submitted application 2 weeks ago, I've just noticed that my valuation fee has been refunded 2 days ago but when I chased my mortgage advisor she said she hadn't had any update from Precise...they only asked a few questions on our bank statements and I assume happy with everything else as they asked that 1 week ago. Why would they have refunded our valuation fee? 

onthemend88

Kathryn1988 said:

Hi all, 
I am hoping you can help... I submitted application 2 weeks ago, I've just noticed that my valuation fee has been refunded 2 days ago but when I chased my mortgage advisor she said she hadn't had any update from Precise...they only asked a few questions on our bank statements and I assume happy with everything else as they asked that 1 week ago. Why would they have refunded our valuation fee? 

It could be for a number of reasons but for piece of mind give Precise a call this morning, they are very helpful. The number you need to ring is 0800 116 4385. 

Keep us updated x

Kathryn1988

Hi,

Thank you, I have just called my MA and asked them to check for me. I am hoping that it was just a hold on my debit card that has dropped off as it's been 10 days since they took the money and they just haven't processed it fully. Fingers crossed! There is no reason we shouldn't get the mortgage, it's just so horrible not hearing for weeks! x

Valacarno12

Any ideas if Precise would instruct valuation if they were still determining whether to approve? 

It’s a new build.

onthemend88

Valacarno12 said:

Any ideas if Precise would instruct valuation if they were still determining whether to approve? 

It’s a new build.

Instructing valuation is a good sign