Precise Mortgages - how long from application to offer?

onthemend88

Good luck both!

Gk2007

Update:
So mortgage advisor have said that the under writter, have sent our case off for final checks.
What are the final checks?
Anybody know?

Bullimore

Hi I am new to this post and also applying for a mortgage with precise mortgages... iv read that after the underwriter it goes to the offer team I assume your case has now gone to the offer team in which a final credit check will be done before offer. This is only what if read on precise website

Gk2007

We have just received a email off our mortgage advisor with our offer attached!!

So happy!

Will keep checking in on here to see how use get on.
This forum has certainly helped over the last few weeks..
😁

onthemend88

Amazing news Gk2007!

What a lovely way to start the weekend

MsGeorge88

Brilliant News GK2007!!

Congratulations

Dreamshaq

Hi guys


We have just recently went thru Precise via a mortgage broker, we do have adverse credit, we originally went to the CAB in 2014 for help where they wrote letters to every creditor. We made the arranged payments each month. Few years ago we found out that our branch don't deal with the debt side anymore, so me and the wife decided to make our own arrangements with each creditor.

My broker has sent the application to precise, with the valuation fee. They took the money very quickly and then was told they required evidence of payments each month for twelve months, even though we haven't a dmp in place. My mortgage broker then sent an email to precise stating the facts we are no longer with cab and we are doing our own payments, waiting for the underwriters to look at it today or Monday, the broker hasn't sent the 12 months statements from each creditor as of yet as I am still waiting for some to come back from creditors, asked my broker and he said he is sending relevant info and not send too much.



A lot of the defaults were in 2014 and a few 2015, we are borrowing £130k, the new house is £175k we are putting the deposit from the equity of our home, we are going thru px, builders are also paying £5k builders deposit towards it.

We both have lived in the current house for well over 15 years and worked in our job for 10+years


What do you thimk of our chances, we are both very stressed and have paid a lot out already, ie carpets for new house, search fees, holding fee for house and valuation



Should I worry? Just seems to be taking ages

We have like I said have had a dip and also they have done a full credit check (hard check)



Thanks in advance

Dreamshaq

PS is 25% deposit sufficient



And work in our favour?


Cheers

J1707

Ah that’s great. Reading the messages has been helpful in here. I’m nearly 3 weeks into application...terrible previous credit but fine for last 2/3 years. I’m now on the second lot of information they are asking for. I was told that the valuation is with the underwriter at the moment. So I assume if I get declined I will lose the mo eh .

onthemend88

We will be in the same boat when we apply towards the end of the year.

Several CCJ'S and defaults between the both of us but since qualifying and bringing in a decent salary, we are debt free and saving well each month.

No adverse credit now for over 2 years.