Precise Mortgages - how long from application to offer? 5 July 2016 at 2:57PM edited 30 November -1 at 1:00AM in Mortgages & Endowments 1.7K replies 254.6K views

Missymae0

Yes the £400 was taken into account on our affordability.

Precise must have had a busy day yesterday dishing out offers!

Good luck Isutton keeping my fingers crossed for you

Gibbsl

Hi All,

Quick update - I received an email from my Broker on Friday to advise that the Lenders website shows that an offer has been issued to me. This morning my Broker has emailed over a copy of the offer and valuation report. In total from application to offer it was 2 weeks, however two weeks prior to submitting my application i was twoing and throwing documents with the Broker, i am really pleased with them as they did their homework on the lender and prepared all documents prior to submitting to the Lender which proved a smoother process in the long run. So So happy and relieved... Good luck to all those still waiting and i hope you dont wait too much longer. xx

phil1184

Hi all. I have been following this thread over last couple of weeks but have just signed up.

My wife and I applied to precise on 30/6 and our valuation happened on 10/7, I spoke with our broker yesterday who advised that precise had come back and asked for bank statements which were then supplied (as broker already had them) and she had chased them yesterday morning, a decision should be received by close of play tomorrow 19/7. I can see varied responses through this thread but can anyone advise what sort of questions(if any) they have been asked when they've got to this stage please?

phil1184

Typical - as soon as posted on forum I got an email from broker!

Asking for clarity on some standing orders, a couple to default balances and a mortgage overpayment standing order. Also a little further back on joint account bank statements. Fingers crossed!

lsutton

Hi I'm at the same stage as you.
Full app submitted 30/6. Valuation 6/7. My bank statements provided by broker 14/7 and p60s needed to be certified. Expect more questions tomorrow but feeling very nervous as no idea what's going on really.

Hammy76

My DIP was processed on the 5th. Full application sent on the 14th. One question today about where my mother will be living ( we had this property on a joint mortgage ) answer sent back. I know there are loads of transfers in my bank statements as I pay things like that which are not set up in dd and a couple into my account from a savings account we use for household bills but so far no questions about any of those. Dreading any delays as my house sold then I was gazumped on two meaning my buyers are really pushing. Are they likely to question my statements as I am putting a large deposit down so the affordability checks should be fine ? If so what do I need to have ready for them ? If no more questions when am I likely to get a confirmed yes ? My nerves are in shreds already so going it won't be too long a process. Currently they are working on a four day response to start looking at applications which is right as they have looked at mine today.

Mark7519

We recieved our offer today !! We recieved a phonecall direct from Precise to ask us a question about adding our fees to the loan. We answered and he confirmed Offer will be sent to broker immediatley. I explained we were on a end of July completion and he informed us he would fax straight to solicitors so fingers crossed 27th July we get the keys. They might be a bit harsh on lending but to be honest they have ensured we are borrowing what we really can afford. Good luck to all

Missymae0

Congrats mark7519 I called Precise a few times myself before they issued the offer and they are really helpful, they emailed the underwriters for me and I had my offer the following day. Worth a phone call for anyone who is on a tight deadline

Time2go

Can I ask what sort of multiples of mortgage to income people got ? As broker says this is something precise don't advertise and can only be done by just entering a figure at dip stage .

lsutton

Hi.
Kind of going a bit mad here but has anyone been in a situation whereby they are waiting but not actually having to provide any info?

It will of been 4 weeks this Friday since full app submitted and the only etc o have provided has been my mortgage certificate in the first week - all bank statements provided by broker also as standard.

The last 2 weeks I've been waiting for this 4 day turn round as twice they have had issues with stamps that broker hadn't issued on paperwork or certification from broker.

I've been told we will get feedback today but I'm thinking if they start asking me for info now how bloody stupid after nearly a month. Valuation was done on the 6th July ....