Precise Mortgages - how long from application to offer?

fapb48

We have submitted our full application on the 3rd of September and they are still asking for more documentation. I feel like they are trying to find a reason to not give us a mortgage.. 
Exchange of contracts should have happened by yesterday.. Very scary times..
Hopefully everything will be fine soon.

sutts2

fapb48 said:

We have submitted our full application on the 3rd of September and they are still asking for more documentation. I feel like they are trying to find a reason to not give us a mortgage.. 
Exchange of contracts should have happened by yesterday.. Very scary times..
Hopefully everything will be fine soon.

What exactly have they been asking for in addition to your 3 months wages and P60? 

fapb48

sutts2 said:

fapb48 said:

We have submitted our full application on the 3rd of September and they are still asking for more documentation. I feel like they are trying to find a reason to not give us a mortgage.. 
Exchange of contracts should have happened by yesterday.. Very scary times..
Hopefully everything will be fine soon.

What exactly have they been asking for in addition to your 3 months wages and P60? 

I am self employed but i run as a limited company. they have been asking for SA302.. Company's account, bank statement from my company and personal bank.. And i had already sent payslips for my mrs and P60 and now they have asked again for the same payslips and P60 again. I had to send the same info twice.. and they are also asking every single big transaction on my company statements.
There is lots of people saying that they have waited 4/5 weeks and they asked so many things and after they were rejected. I feel that i am going down the same path unfortunately.

sarcal3813

We’ve paid our full application and valuation fee, waiting (im)patiently for updates! 

Haven’t been asked for any further documents. 

freedom010

We have submitted our application 6 weeks ago. Now its our week 7 and we are still waiting for response. Our underwriter has been very much „a pain in ...”. We have been asked for a loads of documents, all statements, all employment proofs etc. I think we are step away from passing DBS check for precise (joke). This week we will either hear that valuation is booked or application declined. I have also heard that precise is trying to find something to decline as many people as possible. Best choice is to have plan B with other lender - we are starting to prepare app for another lender but broker is calming us down stating that things at the moment are taking ages. 

sam791

Our application went in last Wednesday. They came back same day asking for more documents ( tax summary as husband is self employed) . The valuation was then booked for yesterday. We are buying a new build so I think it processed by a different team ? Good luck everyone. 

fapb48

sam791 said:

Our application went in last Wednesday. They came back same day asking for more documents ( tax summary as husband is self employed) . The valuation was then booked for yesterday. We are buying a new build so I think it processed by a different team ? Good luck everyone. 

mine is a new build as well. I havent heard anything about the valuation yet. and we paid the fee on the 3rd of September. 

sarcal3813

fapb48 said:

sam791 said:

Our application went in last Wednesday. They came back same day asking for more documents ( tax summary as husband is self employed) . The valuation was then booked for yesterday. We are buying a new build so I think it processed by a different team ? Good luck everyone. 

mine is a new build as well. I havent heard anything about the valuation yet. and we paid the fee on the 3rd of September. 

You’ve not heard anything at all since the 3rd September? 

fapb48

sarcal3813 said:

fapb48 said:

sam791 said:

Our application went in last Wednesday. They came back same day asking for more documents ( tax summary as husband is self employed) . The valuation was then booked for yesterday. We are buying a new build so I think it processed by a different team ? Good luck everyone. 

mine is a new build as well. I havent heard anything about the valuation yet. and we paid the fee on the 3rd of September. 

You’ve not heard anything at all since the 3rd September? 

Nothing. almost a month now. Absolutely nothing. they are still asking for more info that doesnt make any sense. 
Look at this example: Why did our applicants pay £650 rent in June when their monthly rent payments are £850?
There is absolutely no transaction in our statements with £650 in any month to our landlord. and we also pay £865. not £850.
So i dont know what they are playing at. But i am sure they are trying to find a reason to lend us the money. Disgraceful

obc18

Not to rub salt in the wound, nor jinx my own case, but I’ve found our process with Precise to be really quick - just wondering if your problem might lie with your broker? Ours for example seemed really good at preempting all the secondary questions and additional documents so we sent war and peace in first time. I think that’s definitely helped things along. 

PS. Happy to recommend her if anyone’s looking to switch to a new broker.