Precise Mortgages - how long from application to offer?

gashead1989

obc18 said:

gashead1989 said:

Anybody have experience of furlough with these guys? I was due to be back to work full time tomorrow but am being kept on 3 days a week with my wages being topped up to 100% by my employer, are they likely to pull the plug? 

Also my valuation is scheduled for this Thursday, does anyone know if they still did them last time? 

I was on furlough from April to Sept and I couldn't proceed with our full application until I had my first payslip back to work. I definitely put in a call to find out where you stand. How far along are you?

We are at valuation stage which has been confirmed as going ahead, I’m on part time furlough still but my company have confirmed that there will be no redundancy, all my payslips will show my full wage still as I’ve never had a reduction in my pay. 

Have called my broker who seems to think it will be fine, our valuation is on Thursday, any clue the sort of turnaround time from this to full offer?

obc18

It's not so much about your earnings (I was on 100% pay) it's the actual furlough that looks risky to the lender. Your payslip will show 'furlough pay' won't it? Valuation to offer isn't long, about a week.

gashead1989

obc18 said:

It's not so much about your earnings (I was on 100% pay) it's the actual furlough that looks risky to the lender. Your payslip will show 'furlough pay' won't it? Valuation to offer isn't long, about a week.

My payslip says nothing about Furlough....I’ve let our broker know anyway. 

A week will seem like a month I reckon 😂😂

gashead1989

Just had the call from our broker, valuation was all done yesterday and we have been offered the mortgage today!

From application to offer has taken 28 days. 
so happy, good luck everyone 

homeowner_wannabe

gashead1989 said:

Just had the call from our broker, valuation was all done yesterday and we have been offered the mortgage today!

From application to offer has taken 28 days. 
so happy, good luck everyone 

Ahhh that's great news! Congrats 👏🎊

sarcal3813

Can anyone who’s completed tell me how completion day went? Did the funds arrive with the solicitors on time? 

obc18

sarcal3813 said:

Can anyone who’s completed tell me how completion day went? Did the funds arrive with the solicitors on time? 

Our funds arrived with our solicitors the day before, so we actually ended up completing with the builder mid-morning the day after. We were through the front door by midday. We also had a letter from Precise waiting on the doorstep with our first payment details as well. It all went really smoothly, can't fault them at all.

sarcal3813

obc18 said:

sarcal3813 said:

Can anyone who’s completed tell me how completion day went? Did the funds arrive with the solicitors on time? 

Our funds arrived with our solicitors the day before, so we actually ended up completing with the builder mid-morning the day after. We were through the front door by midday. We also had a letter from Precise waiting on the doorstep with our first payment details as well. It all went really smoothly, can't fault them at all.

So do I need to authorise anything with precise beforehand? Or does the solicitor do all of that now? 

Valacarno12

Due to get the keys this Friday, everyone in order by sounds of it. 

On our Offer it says refund of valuation fee upon completion of mortgage. Does that mean after final payment is made in about 35 years we’ll get the refund?

obc18

Valacarno12 said:

Due to get the keys this Friday, everyone in order by sounds of it. 

On our Offer it says refund of valuation fee upon completion of mortgage. Does that mean after final payment is made in about 35 years we’ll get the refund?

Lol no, you'll get it back after you complete. Ours came about a week after we moved in, via the solicitors.