Precise Mortgages - how long from application to offer?

gashead1989

homeowner_wannabe said:

gashead1989 said:

Have heard news today. 

Told that they are happy with all underwriting checks so far and have now instructed the valuation....sorry to sound stupid but I assume this is good news!!

I have no idea if I'm honest reading through the posts it seems like it's a positive step but not guaranteed! Hope it is as we're in the same boat! When is your valuation booked for?

We’ve not got a date yet, they are waiting to hear confirmation of the date apparently. 

Hopefully it’s a positive sign as we asked for valuation to only be booked when they knew we were proceedable. 

homeowner_wannabe

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

freedom010

homeowner_wannabe said:

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

We are in the same situation. The developer also confirmed to us that valuation took place. Some people on this forum said that they have received an offer the next day, but in my opinion, you do have to chill a bit and wait until next week. We have now mentally prepared to wait until next Friday. If nothing by then, I will start to chase the broker. As far as I understand, valuation is the final part of decision making. If they instructed your valuation, I would assume that your underwriter passed your file to another team that deals with issuing offers and taking care of rest. 

homeowner_wannabe

freedom010 said:

homeowner_wannabe said:

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

We are in the same situation. The developer also confirmed to us that valuation took place. Some people on this forum said that they have received an offer the next day, but in my opinion, you do have to chill a bit and wait until next week. We have now mentally prepared to wait until next Friday. If nothing by then, I will start to chase the broker. As far as I understand, valuation is the final part of decision making. If they instructed your valuation, I would assume that your underwriter passed your file to another team that deals with issuing offers and taking care of rest. 

Fingers crossed! Your right about the chilling a bit, my other half has just asked me to do that lol 🤣

freedom010

homeowner_wannabe said:

freedom010 said:

homeowner_wannabe said:

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

We are in the same situation. The developer also confirmed to us that valuation took place. Some people on this forum said that they have received an offer the next day, but in my opinion, you do have to chill a bit and wait until next week. We have now mentally prepared to wait until next Friday. If nothing by then, I will start to chase the broker. As far as I understand, valuation is the final part of decision making. If they instructed your valuation, I would assume that your underwriter passed your file to another team that deals with issuing offers and taking care of rest. 

Fingers crossed! Your right about the chilling a bit, my other half has just asked me to do that lol 🤣

Haha. Yes. I will keep you updated if we hear anything from Precise. I really dont expect any answer before next friday. I think it really depends how quickly someone picks it up. In reality you should get an update saying „its now for final checks” which as far as im aware involve making sure that underwriter did everything correctly and that property is right. There are more aspects to it such as who is warranty provider etc. Value is only one aspect. 

Once they are happy with full report, in reality you should get offer. Same for us. 

Now im also hearing gossips about another lockdown, so i do hope that offer comes before anymore drastic measures are taken  

Hedgy25

Hi everyone. We went through the process with precise right at the start of lockdown all the way up to today where we are finally completing. So if anyone has any horror story questions they want to get cleared up we are more than happy to help because I sat there a couple of months ago constantly reading through this thread, reading all the horror stories, making myself panic but honestly its not that bad! 
The question i have for the forum is, does anyone know how long after completion the valuation fee refund goes in?

fapb48

homeowner_wannabe said:

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

I feel you. i am in the exact same position as you. received an email saying that valuation was completed yesterday. eagerly waiting for a response now.
Our house is a new build (and its still on a very early phase) and everyday we go there just to check if there is anything different done on the day. it would kill me if they reject our application now

homeowner_wannabe

fapb48 said:

homeowner_wannabe said:

Our developer emailed to confirm the surveyor had been round to the property today! I know precise warned there could be an 11 day wait for the report to come back but I'm hoping it will be quicker! Is tomorrow to soon to call and check lol? I hate waiting 🙈

I feel. i am in the exact same position as you. received an email saying that valuation was completed yesterday. eagerly waiting for a response now.
Our house is a new build (and its still on a very early phase) and everyday we go there just to check if there is anything different done on the day. it would kill me if they reject our application now

Yep me too! Ours is a new build too! We've picked out the kitchen and tiles! Would be heartbreaking if it all came crashing down now! 

gashead1989

Had confirmation today that our valuation is on November 5th! Sit tight now for a few weeks it seems!

freedom010

Had confirmation from our broker that the report came back ok and the application is for its final checks. Does anyone here know what these checks include? Is it just a process in which someone needs to type and print our offer or underwriter will start underwriting hell again? ;/ Google does not give much info ;/