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Precise Mortgages - how long from application to offer?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1.2K replies 209.5K views
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  • lsuttonlsutton Forumite
    47 posts
    Hi there,

    Submitted full application yesterday -75% LTV, husband good credit, mine unsecured arrears 12 months ago. We have provided 3 months bank statements, 3 payslips each, p60s, ID and mortgage statement.

    Just wondering from other people's experience what else they may ask for please?

    Obviously like everyone else a very stressful time as we will lose the house and our buyer!

    Many thanks xx
  • Missymae0Missymae0 Forumite
    85 posts
    Ninth Anniversary
    They asked us for landline number for home and both of our offices. They picked up an address on my ohs report which was his mums. Proof of deposit and work contract.
    The second time they had a couple of questions about of bank statements and what the payments were for etc
    Each time they have a question it takes around a week in my experience for the next step. They have now instructed a surveyor who is going out Monday so we've got our fingers crossed for an offer by Friday 7th July.
  • lsuttonlsutton Forumite
    47 posts
    Looks good for you missymae!

    When did you submitt full app?
  • edited 1 July 2017 at 11:26AM
    lsuttonlsutton Forumite
    47 posts
    edited 1 July 2017 at 11:26AM
    Have they contacted your work place?

    Can I ask your situation if you don't mind? LTV, credit history etc xx
  • Missymae0Missymae0 Forumite
    85 posts
    Ninth Anniversary
    No they haven't contacted my workplace they just wanted my ohs contract as it is a newish job but out of probation period.

    Both myself and my oh have poor credit history, nothing major, no ccjs or anything. A few defaults all over 2 years old.

    We are buying new build with help to buy so 25% deposit.
    We submitted full application 13th June we need to complete by 28th July so still got a little time yet but really need to know either way.

    Good luck to you

    Don't feel excited yet but I have been
  • lsuttonlsutton Forumite
    47 posts
    Yes I feel the same - want to look forward to it but on the other hand worried.

    Let me know how you get on next week missymae - I will too . Good luck xx
  • GibbslGibbsl Forumite
    15 posts
    Hi All,

    I'm a little obsessed to everyones progress and thought i would jump on the band wagon and join this thread to share the anxiety with like minded people who have the nail biting long wait of receiving their offers. This is my story so far... I am dealing with a packager broker (which i am not paying for) and am hoping to secure a mortgage with Precise for a HTB mortgage on a new build property, the loan amount is 75% loan to value. I have a colourful credit history from 2012 and am now seeing the light at the end of the tunnel with it all clearing from my credit report. I have 2 CCJ that are satisfied and were issued in 2012 &2014 (all satisfied in 2014) i also have 4 defaults the last registered in 2012 all for small amounts and settled apart from one that has an outstanding balance of £102 of which im trying to pay off but the company have closed the account. ( I have an ongoing complaint to try and rectify and pay the balance.) The broker i have used appears to be very thorough and i have spent 2 weeks providing documents and answering questions that they feel the lender may ask, i also had a 4 hour review with the MB at my house to double check the application details. The application was submitted on the 30/6/17 and the broker called me to confirm that a hard search had taken place and i was offered a higher tier fixed for 5 years (not ideal but get the risk to the lender) i have checked my bank today and the valuation fee has been called for. I just hope that any questions that are asked my broker is equipped to answer immediatley as i do not think that i can physically provide any more than what i have provided... so let the nail biting weeks (hopefully) commence and good luck to all that are awaiting their offers :)
  • lsuttonlsutton Forumite
    47 posts
    Hi!

    My full application was submitted on the 30th too. Valuation taken same day and I noted today that a hard search was done through experian on Friday (30th).

    When did your broker get in touch with you?

    Thanks
  • GibbslGibbsl Forumite
    15 posts
    Hiya, my broker contacted me on Friday following the hard search as the tier changed as to what previse would offer, I spoke to him again today as there was Also another deal I could take, he said that he would hope to have an offer within 4 weeks, and going by this thread I'm taking that as a minimum timeframe, not quite sure my nails can take the wait though lol! All being well My exchange date should be the 3/8 hit development company have said it can be put back so am not worrying about the just yet! Just keeping everything tightly crossed. How have you found your broker? X
  • lsuttonlsutton Forumite
    47 posts
    Hi there,

    I got my broker through Which .co.uk (they work directly for them). He seemed experienced so after speaking to a few I went with him.

    What paperwork have you provided? I have given 3 months statements each and payslips and p60, mortgage statement and ID. I'm hoping they won't want anything else.

    I have unsecured arrears 12 months ago , my husband is fine . How about you? X
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