Precise Mortgages - how long from application to offer?

Missymae0

We paid our searches with the solicitor before the application was submitted.

I have sent payment for the survey today however the payment hasn't been taken yet

Does anyone know if the survey goes ahead even if haven't approved the application?

I know they have carried out a credit check as I checked my Experian report, that was done yesterday the same day that the application was submitted

Thefutureisbright

I'm trying to find the inoffensive words possible for a public forum but I'm struggling!!

We have had 2 offers throghbfrom Precise and TWICE they have dowbvalued the property...AFTER OFFER!!!!

We have exchanged contracts, have a move date of 26th June and they have come back this morning after sending out our offer last week by another £13k!!!!! As things stand, we are homeless in under 2 weeks due to the ineptitude of this company!!

They don't represent themselves as a 'real' mortgage lender in any way shape or form and they have really effed us over!

BE AWARE!!!!

1sttimebuyer91

Hi Missymae

If they reject your application prior to the survey being carried out then you'll get it back- if they've carried out the survey prior to rejecting then you won't.

I had an update today- few queries about whether I'm on probation period and about how we are clearing our unsecured debt (selling car as both now have company cars). Now have declaration to sign and return and advisor was asked for statements and payslips which he has sent today.

Sorry to hear of the nightmare you're having thefutureisbright I hope you get some good luck soon.

sarahesmith

Sorry to jump on this thread but Can anyone help, me and my partner submitted full application for precise through broker on 25/05/17 we have been told we have passed all credit checks and they have instructed survey on the property we are buying, they have requested further documents on 4 different occasions with a turn around of 5 days, I only have 10months continuous employment due to pvg checks taking 3 months come through before that I had been employed for last 4years with no gaps in my employment history I'm now being told this may be an issue due to my tax on my p60 not adding up this seems to be the only issue with our application does any one know if they will still accept us on this or we likely to be declined after waiting so long for a decision I really don't want any bad news😩

lsutton

Hi guys,

Just about to submit full application.

Can anyone who got asked for more bank statements apart from the normal 3 be more specific?

In terms of months - what you originally provided and what extra you had to provide?

I'm trying to avoid a bad month!

Missymae0

I had to provide 12 months bank statements but that was to show my rent payments.

Sarbs900

We are also going through an application with Precise, full application was submitted 14/06 valuation fee was also taken the same day. We signed the declaration on 20/06. Valuation was also instructed on this day. They came back to me on 21/06 asking me to provide proof of address from 2015/16 & 2017 which I was able to send back straight away. Spoke to estate agents who advised valuation has been booked in for Monday 26/06 so only 6 days from valuation being instructed to being booked in. Fingers crossed everything else goes as smoothly as I think I have given them even piece of paper they could possibly ask for. Has anyone every been declined even after the valuation has been done?
Didn't think it would be this stressful, don't think I've ever checked my phone so much.

Missymae0

Ahhh so stressed now.

We were originally planning to buy next year and not right now so we have not tidied up our bank statements ��
Precise have come back today to MA and queried if we can actually afford the repayments. There is a £280 difference in our current rent and what our mortgage payment would be.
They have queried a loan £187 (recently paid off) a payment to Tesco bank (car insurance) and the fact that we use our overdraft.

My husband also pays around £400 a month into a company shared scheme which we have been using to save for fees etc but will be stopping.

I'm guessing it's not looking good for us, so upset with myself!

lsutton

Oh no! I think we may have the same problem. Did you have any charges on your bank statement etc?
How did you mortgage advisor respond to them and what does he think?
Have you had your valuation yet?

1sttimebuyer91

Try not to stress too much yet Missymae- I think when you explain the £400 a month saving you'll be fine! We're still waiting- been about 2 and a half weeks since application and they had a couple of queries we answered today. Valuation instructed for 29th- mortgage advisor quite confident with the queries they've raised so far- no further documents requested and very easily explainable queries raised.

Fingers crossed for us all!