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Precise Mortgages - how long from application to offer?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1.8K replies 259.3K views
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  • SebasteenoSebasteeno Forumite
    12 posts
    10 Posts First Anniversary
    Well we sent in our last set of docs six days ago and Precise contacted my mortgage broker today just querying my self employed SA302 and tax year overview as they dont tally - basically i applied for marriage tax allowance about 6 weeks and that has messed figures up. Anyway proof sent back to MB and apparantly once they receive this they will instruct valuation!!!

    Feels like we might be getting somewhere (fingers crossed, touch wood etc) 
  • Dollybird2021Dollybird2021 Forumite
    10 posts
    10 Posts Name Dropper
    I got a call today to say my mortgage is approved subject to valuation!!!! Again trying not to get my hopes up but I have googled the life out of this! My house a new build so hoping no issues. I originally sent my application on 4th feb! 
  • EcnubcEcnubc Forumite
    30 posts
    10 Posts Name Dropper
    Jumping on this guys! I’ve sat here and read this entire thread hahaha! I’m going out of my mind. 
    So our journey so far -
     - £185,000 house 
    - 25% deposit of 47,250 able to go to 30%
    Precise gave us a DIP for 150k but obviously we’ve gone for less. 

     My credit score is poor 9 missed payments in the last 12 months but none in the last 6 months. No CCJS, defaults, or debt plans but have had pay day loans 😩😩 I have £500 limit on credit card and OD of £950 but everything else I have paid off! My partner on the other hand is squeaky clean. Excellent score, no missed payments does have a credit card with a limit of 5k but only has 1.6k spent on it so far always over pays on this etc. 

    Joint income of 43k a year no car finance or any other bills other than phone bills

    We are only 25, both been in our jobs for 6 years+ I’m absolutely sh***ing myself if I’m honest feel like they are going to ask me loads of questions on my bank statements. I can’t sleep it’s making me ill :( 

    Full application sent on 26th Feb, they’ve asked for documents twice since. Last heard from them on the 5th. FINGERS CROSSED!!!  


  • Philippa91Philippa91 Forumite
    26 posts
    10 Posts Name Dropper
    Ecnubc said:
    Jumping on this guys! I’ve sat here and read this entire thread hahaha! I’m going out of my mind. 
    So our journey so far -
     - £185,000 house 
    - 25% deposit of 47,250 able to go to 30%
    Precise gave us a DIP for 150k but obviously we’ve gone for less. 

     My credit score is poor 9 missed payments in the last 12 months but none in the last 6 months. No CCJS, defaults, or debt plans but have had pay day loans 😩😩 I have £500 limit on credit card and OD of £950 but everything else I have paid off! My partner on the other hand is squeaky clean. Excellent score, no missed payments does have a credit card with a limit of 5k but only has 1.6k spent on it so far always over pays on this etc. 

    Joint income of 43k a year no car finance or any other bills other than phone bills

    We are only 25, both been in our jobs for 6 years+ I’m absolutely sh***ing myself if I’m honest feel like they are going to ask me loads of questions on my bank statements. I can’t sleep it’s making me ill :( 

    Full application sent on 26th Feb, they’ve asked for documents twice since. Last heard from them on the 5th. FINGERS CROSSED!!!  


    Hey I know every situation is different but try not to stress to much. Ours is subject to valuation now and I've had about 4 miss payments in the last 12 months a ccj in the last 3 years and I only work part time and have been there for a year. We applied with natwest and got rejected so I had lost all hope. I paid all my credit cards off though as that was part of the agreement in getting the DIP. We're asking to borrow £135,000. We do have a massive deposit down. Your timeline is close to ours we last heard on the 4th then found out yesterday the valuation was getting booked. You never know you might hear today. There is nothinf worse then waiting in limbo. Good luck 😊
  • EcnubcEcnubc Forumite
    30 posts
    10 Posts Name Dropper
    Thank you so much for the reassurance. They’ve come back today asking questions about my bank statements. Why does so much money go back and too between my Mum and me - I have basically been lending her money while my dads been out of work. They are in a much better position now so don’t need me.  Asked about a DD bounce which there was a mix up with dates. So annoyed with myself because I’ve never missed a DD but it would happen once on the last 3 statements I had to send. Broker has said I’ve answered questions well and nothing has concerned her yet so fingers crossed!! 
  • Philippa91Philippa91 Forumite
    26 posts
    10 Posts Name Dropper
    Ecnubc said:
    Thank you so much for the reassurance. They’ve come back today asking questions about my bank statements. Why does so much money go back and too between my Mum and me - I have basically been lending her money while my dads been out of work. They are in a much better position now so don’t need me.  Asked about a DD bounce which there was a mix up with dates. So annoyed with myself because I’ve never missed a DD but it would happen once on the last 3 statements I had to send. Broker has said I’ve answered questions well and nothing has concerned her yet so fingers crossed!! 
    Yeah I had the same because I was paying stuff for my sister after she lost her job but explained I had since cancelled the payments and they were fine with that. My partner had questions about money going into his account, I'm guessing maybe they don't want you borrowing money to get by? It's a good thing they are still working through it's just annoying you have to wait again for another response
  • Clairelou86Clairelou86 Forumite
    43 posts
    10 Posts Name Dropper
    Little update from us, precise can only offer the full mortgage amount on a 5 year fixed rate which is slightly annoying because affordability done by MA confirms affordability is fine on 2 year 🙄. Anyway, hopefully hear back early next week. Valuation has already been done and signed off so hopefully it won’t be to much longer to wait now. Five weeks tomorrow since application submitted 🤞
  • Dollybird2021Dollybird2021 Forumite
    10 posts
    10 Posts Name Dropper
    @clarelou86 that’s good hopefully u bear soon.

    my valuation isn’t until Thursday 😭 so defo another full week anyway. I have looked up the reasons a mortgage would get rejected after valuation and it seems none of them would apply to my home. Just keeping everything crossed. 

    @[email protected] I had all the same stuff from them. I got asked so many questions. I had a DD bounce too & I had to write a letter - yes a LETTER addressed to precise explaining my account contact and how I will ensure payments are made every month! I honestly feel like so violated it’s been a tough 5 weeks with all this. I’m due a breakdown defo lol 
  • Philippa91Philippa91 Forumite
    26 posts
    10 Posts Name Dropper
    Ahhh our valuation was done yesterday! Can't believe how fast they did it. Our broker thinks we will hear back next week since they have already done it!!! 
  • EcnubcEcnubc Forumite
    30 posts
    10 Posts Name Dropper
    Anyone had any news today? 
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