Precise Mortgages - how long from application to offer?

rasputin4490

They have their service times on the website
Currently 2 working days for applications and 3 for post.

You can always call them direct and theyl tell you when your stuff is likely to be reviewed just make sure you have your mortgage details on you!

Onewayup

Received my mortgage offer in the post today
Application submitted on 16/05/1992
3 requests for further paperwork and information
Borrowing 167000 on help to buy
Finally worth it

Supersi90

I hope your application is typo error 1992? I have an application in with them atm I’ll be retired if it takes that long lol

Onewayup

Yes that is a typo sorry it was submitted on my birthday so when I typed that I automatically put my date of birth. I had to jump through a lot of hoops for the mortgage offer. It was a sole application with one years limited company books 52k salary including dividends and a high debt to income ratio also I had missed payments and wasn't on the electoral role.

First_timer_buyer_stress

Any one awaiting a mortgage offer with Natwest?

Snackattack99

Delighted to say we have been accepted today. The process has only taken 14 days from start to finish. Mortgage is for a £300k house - £225k mortgage with 20% help to buy deposit, 5% from us. I have very bad adverse credit - 2 ccj’s over 2 years ago with one settled and another active plus 3 defaults - 3 still active. Over the moon to get the offer and finally get on the housing ladder!

loc80

Hi there
We are currently waiting for a mortgage offer from Precise and was wondering if anyone has had an experience like ours.
Both mine and my husbands credit is good/excellent but we were declined by most lenders due to the amount of debt we have between us. We currently have a total of approx. £45,000 of loans and credit cards. Joint income of circa £65k per annum.
We passed affordability easily (MB said we were well within our limit) and are in the process of selling our current house and buying new build with HTB. We have also been accepted for HTB.
Full application has been in for about 2 weeks now and MB says they asked a few more questions last week and should have an answer by the end of this week.
We are very nervous and do not want to exchange on current house in case we don't get our offer....

Lauren_w91

Hi,

We are in the same boat! MB (l&c) submitted full application to precise last week, they come back asking for ID, 3 months BS, 3 months payslips etc.

Precise are our last chance, Kensington and alder more said no as a default appeared on my credit report on 6th June with the default date being January 2017. Kensington your not allowed default within two years and alder more 3 years, despite me telling MB about the default they still applied! we are help to buy hence these criterias.

Im wondering what questions they will ask about bank statements, we have nothing dodgy on bank statements however I am employed by nhs but i am on a secondment which means i get my wage for being a full time student. So therefore i was entitled to student loan which was last paid in April 2018. Im praying they don't ask to many questions around this as my secondment contract doesn't match my payslips (my pay should be more!!) as my manager never told HR at the time. Currently in the process of trying to get this sorted! I also get 'cash in hand' paid into my bank account from my second job which i haven't declared as its as and when i want to do it.

The wait is awful!

Anyone have any recent experiences with L&C AND/OR Precise?

Onewayup

Precise asked loads of things on my bank statement such as an ultrasound payment for £30 for my partner and a transfer to my ex wife for my son. They came back for information 5 times and it looked like I was going to be declined. My house was 215000 and was htb with 5%. I finally completed with precise last Friday.

Lauren_w91

Oh really, how long from app to offer in total?

Im not worried about them questioning my outgoings its my income into my bank! But to be fair i haven't declared any of it towards affordability etc so it shouldn't really be a problem. But we will see.

At what stage did they send for valuation?i see on there website it says for help to buy they aim to have an offer within 21 days.

Congrats on your offer. Hope we are in the same boat as you soon. We need a mortgage for £284000 with a LTV 50.7% (40% equity loan and the rest deposit)