Precise Mortgage Aplication

jessnat995

Hi Everyone,


Like everyone I so nervous,


Me and my wife have gone through a broker, with precise,


we have got an agreement in principle for a new build house with the help to buy, Our broker has put in a full application, I can see precise have done HARD search on my file and take £410 valuation fee.


We have 1 default which is back in 2013 and 2 settled in 2014, so none in the last 24 months,
We have Taken out a loan to pay of a car finance which was at a better rate, which we have told out Broker and supplied all information,


I am so nervous about the outcome as we have secured a new build we like and paid the fee to hold it,


I know its a bold subject but could anyone share any thought on if we should be ok?


thank you in advance,

Rileybaby

I think you will be fine. With only 1 default though and over 24mths old I would have tried high street rather than sub-prime as I suspect many of the usual lenders would have accepted you.

jessnat995

I hope so, You think I would have been accepted? even with the 2 settled in 2014?


Also do you think taking out the loan to clear the other will effect it? we have declared it with the broker when she got us an AIP


Its so stressfull, haha

amnblog

You have engaged your broker. You need to trust them. If the case was likely to fall over due to your credit situation it would have done so by now in 99% of cases.

Unfortunately, mortgage offers do not arrive overnight so you need be try to be patient.

jessnat995

Thank you amnblog, yeah I guess I just have to wait, just very nervous.


im more nervous that the new loan will put them off,


have you dealt with precise before?

amnblog

Only every week.

jessnat995

has any one dealt with them recently, if so how long is there turn around time at the minute, ?


also has anyone been asked for more information,?


ive sent 4 months statements
3 months pay slip,
ID

Rileybaby

I was rejected by Precise fir so,enjngbthat wasnt even on their t&c's but accepted by YBS for a standard mortgage on a much better rate!

jessnat995

did they say why?

Rileybaby

I had 3 months of arrears going back 8 years! this was a no fir them. It wasn't even an issue with YBS...and the rates were much better.

jessnat995

Could some one explain what a mortgage packager does? and are they any advantages to this?