Precise mortgages updated info

sjg85

Hi All

Just wondering if anyone has any recent experience with precise? We got out DIP 15th April and full application went in on 18th, they came back on Friday last week asking for more information which I only gave to broker yesterday... our survey is apparently booked for Friday? It doesn't seem to make sense they would take the time to do the survey if they haven't given us an offer yet? How long have people had to wait from application to offer?

Thanks

kingstreet

Most lenders cannot afford the time to wait to instruct the valuation until after they have done the underwriting.

They will instruct the valuer, get all the documentation in and underwrite the case as a whole when the valuation arrives.

ndf9876

Adding to what Kingstreet has said, some lenders will refund your valuation fee if they decline at underwriting stage.

Edenrose1

Currently going through Precise at the moment - so will be following this tread...

Thefutureisbright

There is a decent thread going on at the moment, not sure how to add it onto my comment but if you look at maybe the next page of threads, you'll find it. There's a lot of us going through the long dreaded wait...

It's called 'Precise Mortgages - how long from application to offer'

I'm sure you'll find it useful!

jessnat995

I think it depends on the broker, ours ith precise told them not to do the valuation untill all the underwriting was complete,

to protect our valuation fee at least

sar8546

Hi,

Recently received my full written offer from Precise. Took about a month from the application to the offer. The survey was done pretty quickly but then they kept coming back for additional information (and every time they receive a new piece of info from the broker it takes them a week to review it).

Good luck!

lsutton

Just submitted my full application. 3 months bank statements, 3 payslip, p60. Mortgage statement, ID.

Can I ask what other supporting info you were ask for? I know each case is different but just to get an idea!

Thanks

amnblog

Current Precise Mortgages timescales:

4 working days for applications submitted (for initial assessment)
4 working days for post, emails and faxes (please note this is effective from the date the latest document was received)
estimated time for valuation receipt is 5 working days

It is really down to your Broker to help you manage your expectations on timing.