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Precise Mortgages - how long from application to offer?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1.1K replies 204.9K views
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Replies

  • FaithshaloFaithshalo Forumite
    15 posts
    Yes - We waited until the underwriters were happy before having the survey. I did think we would of had it at the beginning of the week but no such luck... I was told it would be 48hrs on tuesday but today was told it may be tomorrow... I just hope it is tomorrow as I feel so anxious and stressed over it...Its been a long 3 months that's all I can say!
  • lsuttonlsutton Forumite
    47 posts
    Any offers guys?
  • Missymae0Missymae0 Forumite
    85 posts
    Eighth Anniversary
    Nope still waiting, survey carried out Monday just gone apparently we will know by Tuesday
  • I hate to be the bubble burster but if you expect the worst, you'll probably be close!

    We're currently in such a pickle with Precise, after 3 offers and them revaluing the house each time even after our original valuation, we waited for nearly 2 weeks for our final offer but because of technical issues in their side, they couldn't produce the offer. We now have our final offer and the expiry date is Tuesday. We still haven't received the acceptance forms and they say we have to complete by Tuesday otherwise we have to reapply for an extension.

    Genuinely the worst company I have ever dealt with.
  • lsuttonlsutton Forumite
    47 posts
    So they keep changing the value of the house? What a nightmare.....

    What can you do about that? Is your seller reducing the price?
  • Hi all I am looking at applying to precise through a broker as I have a mortgage late payment from March this year due to a stupid problem with my standing order being taken late (I am disputing this) I think I fit the criteria for tier 3- has anyone else had any adverse credit like this?
  • GibbslGibbsl Forumite
    15 posts
    lsutton - that's great news and a positive step forward. To have the survey done must mean the underwriters are happy so far? I'm a bit disheartened today I got another email with a few more questions on last night, which I have answered but just have a bad feeling now 😔. Fingers crossed all is well with your survey and hope all those waiting on offers hear this week x
  • GibbslGibbsl Forumite
    15 posts
    To be honest Hun they will offer whatever tier they want, my criteria fits into tier 2 on the help to buy mortgage and in application they offered tier 6. Xx
  • lsuttonlsutton Forumite
    47 posts
    Gibbs's - don't be disheartened- I'm expecting lots of questions next week which I kinda wished they had done this week. Not sure how they work - some seem to have all questions before survey -some after.

    What kind of things are they asking?
  • Yes, it was initially valued at the price we offered. Then the offer was sent. They then downvalued it by £10k, the sellers met us half way, another offer sent. They then downvalued it by another £8k so we had to pull out.

    The sellers came back to us a few days after we pulled out and said they would come down in price as we were so far into the process and they had already moved out due them doing a barn conversion.

    We went back to Precise and they were sending a corrected offer out with the new value. Nearly a week and half later due to their technical issues we got the new offer only to be told that the original expiry dates stand which is Thursday this week!

    We still have no acceptance paperwork despite them saying they posted it 4pm on Wednesday and our solicitor is saying it's not going to be done in time as it takes Precise 3 working days to release the funds which we won't be able to get the acceptance back in time now. If they didn't delay things on their side because of their IT issues, we would have had enough time but at this time, they won't honour it.
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