Precise Mortgages - how long from application to offer?

NannyPlum89

Good luck everyone. Precise declined us as my husband can't prove his income from last September/October as he was self employed. They've asked us to resubmit in 6 weeks' time once my husband has his September and October payslips, as he then has 12 months provable income. Precise said they were happy with everything else, they just want these extra payslips. We've just gone into a local lockdown and so I'm hoping and praying Precise dont start pulling products again in the meantime.

obc18

NannyPlum89 said:

Good luck everyone. Precise declined us as my husband can't prove his income from last September/October as he was self employed. They've asked us to resubmit in 6 weeks' time once my husband has his September and October payslips, as he then has 12 months provable income. Precise said they were happy with everything else, they just want these extra payslips. We've just gone into a local lockdown and so I'm hoping and praying Precise dont start pulling products again in the meantime.

Sorry to hear that @NannyPlum89. Was this declined on full application or AIP? At least it's not the end of the road completely and they were happy with everything else. Hang in there.

sam791

NannyPlum89 said:

Good luck everyone. Precise declined us as my husband can't prove his income from last September/October as he was self employed. They've asked us to resubmit in 6 weeks' time once my husband has his September and October payslips, as he then has 12 months provable income. Precise said they were happy with everything else, they just want these extra payslips. We've just gone into a local lockdown and so I'm hoping and praying Precise dont start pulling products again in the meantime.

Hi Nanny . 

Was he self employed then but employed now ?  I’m in a similar position to you so this has me worried now.  

oldmill14

Has anyone been successful with Precise and been on furlough?

 I earn enough to cover the mortgage on my own and my wife is on furlough. We have a letter from her employer explaining she is on flexible furlough and we will be back on 100% salary from November but the broker said Precise are not happy with this but my broker knew this was on the case when we applied. 

NannyPlum89

sam791 said:

NannyPlum89 said:

Good luck everyone. Precise declined us as my husband can't prove his income from last September/October as he was self employed. They've asked us to resubmit in 6 weeks' time once my husband has his September and October payslips, as he then has 12 months provable income. Precise said they were happy with everything else, they just want these extra payslips. We've just gone into a local lockdown and so I'm hoping and praying Precise dont start pulling products again in the meantime.

Hi Nanny . 

Was he self employed then but employed now ?  I’m in a similar position to you so this has me worried now.  

Yes, he was self employed as a taxi driver until March 2020 when he became employed. With it being taxi driving, it was very cash heavy and last September and October we didn't put any of his earnings into the bank as we had 2 of our children's birthdays to pay for, and so we just used cash for their presents. Precise weren't happy as there was no proof he earned money in those two months.

NannyPlum89

obc18 said:

NannyPlum89 said:

Good luck everyone. Precise declined us as my husband can't prove his income from last September/October as he was self employed. They've asked us to resubmit in 6 weeks' time once my husband has his September and October payslips, as he then has 12 months provable income. Precise said they were happy with everything else, they just want these extra payslips. We've just gone into a local lockdown and so I'm hoping and praying Precise dont start pulling products again in the meantime.

Sorry to hear that @NannyPlum89. Was this declined on full application or AIP? At least it's not the end of the road completely and they were happy with everything else. Hang in there.

Thank you. It was full application

sarcal3813

An update from here... Our application was supposed to have gone in on 08/09, but with our broker on annual leave, and no money having been taken from us yet, I spoke to precise directly, who advised they didn’t have an application in our name, just the DIP. 
We emailed our broker who assured us that even though he’s on annual leave, he will resend everything and speak to them to see what’s happened. 

This is obviously quite concerning, but hoping it will all be sorted and we get the offer ASAP!! 

hseab89

Hi. Our mortgage application with Precise was submitted on the 21st August, we were asked for some
additional information twice. They instructed the valuation on 11th September which is taking place next week. Fingers crossed 

obc18

hseab89 said:

Hi. Our mortgage application with Precise was submitted on the 21st August, we were asked for some
additional information twice. They instructed the valuation on 11th September which is taking place next week. Fingers crossed 

What additional information did they ask for out of interest?

hseab89

obc18 said:

hseab89 said:

Hi. Our mortgage application with Precise was submitted on the 21st August, we were asked for some
additional information twice. They instructed the valuation on 11th September which is taking place next week. Fingers crossed 

What additional information did they ask for out of interest?

A letter from my employee to say I was back off furlough, we are in shared ownership so a rent statement, and details of my student loan. They also asked for my P45 from my last job as it wasn’t quite a year since I started the one I am in (by 5 days)