Precise Mortgages - how long from application to offer?

NannyPlum89

sam791 said:

We have been declined as they do not accept our new build warrenty . They also won’t refund the valuation fee! Broker is trying with Kensington . So I’m upset . 

So sorry to hear this. I hope your broker manages to place you with another lender.

sam791

Our builder uses global which precise don’t accept . They knew this when they took our valuation fee . We are going to try with Kensington. I can’t bear to go through all this again though ! 

fapb48

sam791 said:

Our builder uses global which precise don’t accept . They knew this when they took our valuation fee . We are going to try with Kensington. I can’t bear to go through all this again though ! 

Sorry to hear that. Hope things work out with you at the end

fapb48

I have been emailed today saying that all documentation was signed off and they will contact site to book survey. Hopefully this is good news. Fingers crossed

sarcal3813

We had our mortgage offer today!! 

Our application went in 18th Sept, our broker was brilliant in the end chasing them up for everything they needed. 

NannyPlum89

sarcal3813 said:

We had our mortgage offer today!! 

Our application went in 18th Sept, our broker was brilliant in the end chasing them up for everything they needed. 

Congratulations!

obc18

We got our offer today, it’s been a whirlwind I really didn’t expect it to happen so fast

Application went in 21/9
Val fee taken same day
Valuation booked 24/9 for 1/10
Offer 7/10

sutts2

Can anyone help me to explain in detail the next steps after your mortgage is offered? Our Solicitor had the formal offer on her desk on Monday as well as us also signing and returning the mortgage agreement to Precise on Monday. What would the next steps be?

obc18

sutts2 said:

Can anyone help me to explain in detail the next steps after your mortgage is offered? Our Solicitor had the formal offer on her desk on Monday as well as us also signing and returning the mortgage agreement to Precise on Monday. What would the next steps be?

I think it sits with the solicitors from this point. They get their copy of the offer and then you’ll be sent deeds to sign. That’s what my solicitors have told me. 

freedom010

Your silicitor will receive a copy of offer. He or she will need to send specific property information pack and report to lender for approval. (This is for formality). Solicitor will need to wait for a document from lender confirming that its all good (usually week or two). 

Then your solicitor will send form to HTB (if you use equity loan) to obtain authority to exchange. This can take few days. 

Once that all is in place, all contracts are signed and deposit funds with the solicitor, you can send her or him an instruction to exchange contracts. 

Between exchange and completion, solicitor will get funds from the lender, help to buy and on completion day funds will be transferred to the seller or developer. On that day solicitor will also send adequate forms to hmrc and land registry. You should receive your deeds within few weeks. 

From that point you should have a phone call and collect keys.