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Precise Mortgages - how long from application to offer?
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Just had a phone call from the surveyors to arrange a day to come out. They are coming on Wednesday 11th October. I assume that this is a good sign??? We put our application in on Tuesday morning.0
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Our buyers are using Precise through a broker.
They did the survey 6 WEEKS ago and our buyers still don't have their mortgage offer yet :wall:
The purchase of our next home is on the brink of collapse because of how slow they are...
Are there no guidelines on maximum amount of time it should take? Seems they can take as long as they damn well please and sod the consequences for all the people involved.
Does anyone speak with Precise directly or go via a broker? It seems the broker also doesn't really give a crap and I'd rather they go their info from the horses mouth than via a middle man.0 -
Just had a text from my broker - the offer is in the post:j:j
My broker has been really good. She is quite annoyed at how slow they have been but its taken 6 weeks from full application to final offer including a 2 week delay whilst we waited for HMRC paperwork. It took me 2 days to get through to someone to pay the telegraphic transfer fee though - however the guy I spoke to was really helpful.
The property purchase is £265k, we've borrowed £137k. Our broker has assured us that once the 2 years are up we'll go elsewhere for a much better deal0 -
I’ve just heard from my broker requesting a couple of more payslips for my hubby as he is weekly paid and also for us to complete a debt consolidation form as we are borrowing extra to pay of debts so that we can go elsewhere in the future.
Just been filling this in and so ready to go back to broker this evening0 -
Our buyers are also using Precise.. they have been so slow.
Its taken 7 weeks for them to get a mortgage offer through.
We were supposed to exchange last monday when we were just advised because they are going through precise they need one of their approved solicitors to approve the contracts first before they will allow the exchange as their usual lawyer is not one of their approved so effectively usinf and paying 2 lawyers fees for the one sale. Its just a nightmate tbh.
Our buyers are also getting VERY impatient and are very close to pulling out as the process is just a nightmare. If only you could quiz buyers about their plans for mortgage before accepting an offer or we would have picked one of our other offers!0 -
Lacey people who are using precise have a hard enough time securing the mortgage, if people could cherry pick offers due to the mortgage provider imagine how much more difficult it would be for "us". It is hard enough.0
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hi everyone
everything sent off, all documents (around 30 of them) have been submitted. had a phone call from my builder on the weekend to say the house is ready on the 26th of this month so just over 2 weeks away. praying for an offer this week. also had to change solicitors due to precise not being on the panel for them. everything needs to happen pretty quickly now the next fortnight its been a long journey!0 -
Finally received confirmation from Help to Buy - one address field was incorrect so had to be worked again and taken best part of 4 weeks just to get this far.
Application has finally gone in (i believe our Broker did this on Friday) and now a waiting game. Can already assume payslips needs / bank statements (as DIP was almost a month ago). Also received a £11k payrise which should be seen as a positive but reading on this forum they may ask questions on increase , etc etc.
As a novice, do i expect Precise to send me documents direct, and as for valuation will they come to me and ask me to pay them directly for the survey which is £630?0 -
Mchanot, they will take the fee usually when the application is submitted by your broker, all communications will be between your broker and Precise. They will send you a letter confirming direct debit details though.0
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Our story is a bit complicated and long winded. We contacted a broker back in June as our existing mortgage was coming to the end of fixed term in October. Hubby had a default (no payments missed but minimum payment agreement not accepted so sent to third party). First broker said no way will you get a mortgage go down second charge route which would have been an additional £700 per month but he said only way. I contacted another Broker who originally placed us with another bank who kept changing the goal posts took valuation fee and then refused us. Full application sent to precise on Monday 18th September valuation booked for 27th and carried out. We valued property at £385,000 (to be safe) surveyor valued at £400,000. Mortgage offer received on Thursday 5th October. I believe we are tier four. I still keep thinking somethings going to go wrong. No idea if we've been lucky time wise or if our broker had everything from first application. Keep your fingers crossed for us please as still worried something will go wrong 😁0
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