Precise mortgages application to offer time frame

akc123

Hi All,

Mortgage application was submitted on 21/02 and money has been sent for the valuation.

I was wondering if any brokers had dealt with any applications for precise and how long it took for the offer to come through?

Thanks.

craigdtaylor1985

I wouldn't be hoping for a quick turn around on this.

They take the money by standard for the valuation and will refund it if they decline the application.

We went to full application on the 21st of January, money taken straight away for valuation. They will query everything and ask for A LOT of supporting information. When you send them something they take a standard 5 days to assess and get back to you for something else.

We had a valuation done on the property on Tuesday 28th and found out today that we will hear from them by next Friday. Every time you contact them, its a week before you next hear anything. Its infuriating but when you are with precise its because you cant go to a high street lender so they take as long as they like.

Best of luck

tom2205

The last case I did with Precise took 34 days from initial application to full offer. I would say standard time you're looking at is between 3-6 weeks app to offer.

kingstreet

Our last Precise case was in October.

Application to offer in fifteen days.

However, regardless of the lender concerned, we establish in advance every item the lender might require and obtain it before we submit the application. This means a longer period between a price being agreed and application, but a shorter period between application and offer.

We have done our first case with Cambridge BS today, a BTL remortgage. We already have on file;-

three months payslips
P60
three months bank statements for all current accounts
latest annual mortgage statements for residential and two BTLs
two BTL tenancy agreements
ID/POA.

We cannot think of anything else they might require on this case and expect application to offer to be two weeks or less, our usual target.

jessnat995

I applied on the 9th and the valuation easy done wednesday .

It will be the longest 6 weeks of your life. Ahha

And be prepared for info requests all the time. But it's parts of process.