Precise Mortgages - how long from application to offer?

Sebasteeno

Well we seem to be going no where atm - App went in Feb 27th - 3 days later first questions, i week later they asked one more question and i sent one piece of paperwork to our MB who said this should be the last step before valuation is instructed - 6 days later no update which is a tad annoying when they only had to verify one document - MB said the whole industry is very busy and even high street lenders are taking a week to get back to people so thats slightly put my mind at rest - just want to know if its moving to valuation - atm we feel like were stuck in limbo

Clairelou86

@Sebasteeno it’s awful being in limbo, we are the same. Valuation was done weeks ago. We were told should here back yesterday, nothing. Chased today and was told it would be looked at by close of play today and still don’t know what’s happening. We are on week 6 Friday , application submitted on the 5th feb😔. There has been some
delay due to query on affordability and term changed but I was expecting it
all be over with now but still don’t have an offer. 

_AandL_

Same here! We’re on our 5th week and only hear from precise once a week. Sellers are questioning our ability to get a mortgage now and debating pulling out.

_AandL_

Ecnubc said:

@_AandL_ when did you put your full application in? We applied on the 25th

Applied on 11th Feb. We’ve had non stop questions 

Philippa91

Ecnubc said:

We heard from our MB today, precise we’re happy with our answers regarding bank statements and with affordability so they’ve passed it to the valuation team. FINGERS CROSSED!!! 

Yay that's great news! Hopefully they get the valuation done soon and you might even have an answer by next week! How exciting!!! 

Clairelou86

_AandL_ said:

Same here! We’re on our 5th week and only hear from precise once a week. Sellers are questioning our ability to get a mortgage now and debating pulling out.

Hang on in there. I’m sure you will get the outcome in the end. I sure hope we do 🤞. Keep us posted. 

Ecnubc

It’s 3 weeks today for us, it was passed to the valuation team yesterday and they are carrying out the valuation today. Not getting my hopes up as you’ve all been waiting so long 😩 hopefully we’ll all have answers soon!! 

Philippa91

Ecnubc said:

It’s 3 weeks today for us, it was passed to the valuation team yesterday and they are carrying out the valuation today. Not getting my hopes up as you’ve all been waiting so long 😩 hopefully we’ll all have answers soon!! 

Gthats great news! You're literally a week behind us with everything so hopefully you'll find out next Tuesday. Someone told me they wouldn't do the valuation if everything else wasn't good so i reckon you've got it in the bag now!

Ecnubc

Thank you! Fingers crossed, I had a little cry this morning when the MB emailed again saying they’ve accepted subject to a satisfactory valuation which is being done TODAY! Have you had an answer yet? 

Philippa91

Ecnubc said:

Thank you! Fingers crossed, I had a little cry this morning when the MB emailed again saying they’ve accepted subject to a satisfactory valuation which is being done TODAY! Have you had an answer yet? 

Yeahh he rang last Wednesday saying they have instructed the valuation and that they were happy with all the paperwork. Rang me back Friday saying they had done the valuation on Thursday then got a call on Tuesday about 1.45 saying we got our mortage 🎉 good luck but I don't think you need it at this point woohoo!