Precise Mortgages - how long from application to offer?

freedom010

Precise confirmed to me that once valuation is back, it needs to be checked by underwriter and then passed to senior team for some checks which include making sure that u derwriter did everything correctly. To comply with FCA regulation. There are bo updates made by precise anymore during checks so you have to wait for final offer or decline. Usually its up to 48hrs for underwriter plus another 48hrs for checks. Advised to wait until friday as they have a lot of applications. 

Kolacat

Hedgy25 said:

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?

Ours didn't get refunded but the amount came off the fees we paid to the solicitor. Hope this helps

freedom010

homeowner_wannabe said:

Nope nothing at my end! I'm trying to convince the other half to call our broker for an update but he's trying to get me to wait says I'm being impatient and that the broker will call when there is an update lol! It's infuriating how calm and patient he's being 🤣

Any update on your offer?

homeowner_wannabe

Nothing but radio silence at our end 😭

freedom010

homeowner_wannabe said:

Nothing but radio silence at our end 😭

We just had a call. Offer issued. so happy. 

homeowner_wannabe

Oh that's fantastic! Congratulations, really pleased for you! You've defo waited long enough for it!! Fingers crossed I hear something soon! Was it your broker that called you or precise? 

freedom010

homeowner_wannabe said:

Oh that's fantastic! Congratulations, really pleased for you! You've defo waited long enough for it!! Fingers crossed I hear something soon! Was it your broker that called you or precise? 

My broker. We are using L&C and i have to say its been amazing. Underwriting wasnt but broker was. Broker will receive an email as soon as offer is available in online portal. Precise communicated with you, solicitors etc by post. 

homeowner_wannabe

My broker just called, precise called to confirm if there had been any changes in situation and then told him the application was in final checks! Hopefully hear something positive soon! 

freedom010

homeowner_wannabe said:

My broker just called, precise called to confirm if there had been any changes in situation and then told him the application was in final checks! Hopefully hear something positive soon! 

We had offer within 48hrs of that update so you should have it tomorrow! Or friday. Then u can party all week. 

homeowner_wannabe

freedom010 said:

homeowner_wannabe said:

My broker just called, precise called to confirm if there had been any changes in situation and then told him the application was in final checks! Hopefully hear something positive soon! 

We had offer within 48hrs of that update so you should have it tomorrow! Or friday. Then u can party all week. 

Fingers crossed! I'm am relieved the valuation came back with no issues Ive been reading some horror stories of properties being undervalued because of the pandemic and effect on economy!  Don't know how you've kept yourself sane waiting for 16 weeks, I'm struggling and this is only our 4th 🤣