Precise Mortgages - how long from application to offer?

Hanperkins9

I wanted to post a positive story in here regarding Precise Mortgages for anyone who is interested.

Mortgage Application Completed- 03.01.18
Came Back For Some Paperwork-04.01.18 (Sent back the same day)
Valuation Completed- 05.01.18
Mortgage Offer Recived- 08.01.18 (Email)
Paperwork Received via post- 10.01.18

Overall a pretty quick application process... just our solicitors that seem to be holding up the process.

Good to luck anyone still waiting.

ExplorerSG

Its now a waiting game to see if they offer us a mortgage.


Full Application went in on Monday 8 January 2018....


Broker came back asking for a few more documents today which we supplied . Now just waiting for more questions.

susannthe3cs

We made a full application in September but I think summat happend to documents so we will say November .. they had 3 month bank statements
Payslips id list of debts to be paid off and list of what I want the money for (remortgage) I own the house 100% and want the money to do improvements xx
Was initially rejected December as said my earrings weren’t enough hadn’t seen that I had swopped nhs jobs so was now on over the 15k they required so they kindly relooked at it and wanted 1st new payslip ....New direct debit details for my own not joint account
Now want a tax credits letter with full new salary on despite me not going to earn that this tax year so I have done that and waited 2 week for it
They haven’t asked any questions re bank statement etc so I’m presuming that’s ok can you think if they may need anything else after this ?

AJK11

Hello just thought I would share our experience/journey so far.

My partner has a squeaky clean credit score but nothing much on his report as has never used any credit before.

I currently have a 'poor' credit score with 4 defaults in last 24 months. Total debt owing for these defaults is just over £3k. 1 default is settled, the other 3 I have payment arrangements for and there are explanations as to why the debts were incurred at the time.

Both my partner and I are in full time employment earning a combined income of 45k per year.

We were originally given a DIP with Vida homeloans and had agreed a sale on a property, however after a 3 week wait (seemed like much longer!!), they declined us and said we could appeal but they likely wouldn't even consider it without a 25% deposit which we couldn't do.

We then went back to the drawing board, dropped our maximum budget considerably and started looking for properties we could afford to put down 25% on. Found a lovely house, agreed a price and had our offer accepted :-D

Our mortgage broker submitted our full application to Precise 2 days ago (23rd Jan), today our broker called us to say they want to book the valuation in which I'm told is very good news!! They are completely satisfied with my credit history, affordability etc, the only extra info they have asked for is relating to proof of address history which we can hopefully sort out, but other than that I am very impressed with the speedy turn around of 2 days and hopefully will have our offer soon!

Good luck to everyone else waiting to hear and congratulations to those with offers already :-D

elchapo

Great to see your getting through AJK11.

My wife and I got a full application into Precise this morning via our broker. My wife’s credit history is squeaky clean but I have 2 defaults from almost 4 years ago. Hopefully, we should hear something in the next few working days as Precise appear to be working very fast. Fingers crossed!

AJK11

Ah good luck! Yes it's a quiet time of the year for house buying so they do seem to have a fast turnaround at the moment. I'm hoping we will have our offer within the next week or so,as long as the valuation goes ahead quickly and they get the report back promptly.

Keeping everything crossed!

James2018

Hey all

Quick question for any one who are now living in there new house who has a mortgage with precise. Did you get credit checked again before you completed. We have our offer and have exchanged . But havent completed yet. Just wondering if anyone did get checked again. Some other lenders seem to and some dont

James

Cokibear123

Hi. We completed in December and no we didn’t get rechecked. Hope all goes well for you.

James2018

Thanks thats great . i heard a few people say that they got re credit checked before there lenders released the funds

James2018

Cokibear123 how long did your whole process take. We have bought a new build and was about 2 or 3 months ago we had the offer