Precise Mortgages Advice Needed

Herbie73

Hi all so I got my help to buy equity loan sorted and everything has ploughed on ahead with the solicitor and valuation etc but precise keep asking more questions; I wait the 5-6 working days between each question and think they must have all of the info now then get more, for example this weeks was what are 3 PayPal payments of 4.99, 5.99 and 6.99. Anyway next week is the last week the house is reserved and I don’t know if they’ll extend the reservation at this point (new build and it’s complete and ready to move into) .. I was wondering whether anyone else who used precise could tell me the things they have been asked for so that I can prepare anything else that could be needed. I can’t spend days hunting for more documents etc if the deadline is upon us! So far I was asked for the details of the debts I pay monthly, the amount outstanding on those debts and these PayPal payments. I have ccjs which are paid off and I gave the evidence of that already. I can’t think of anything else they would ask for? I don’t have a DMP, I pay the debts on monthly instalments directly, would they ask for evidence of the instalments maybe? I could get that sort of paperwork ready if so. That’s all I can think of but being asked for PayPal details makes me think there’s more I wouldn’t have thought of! Hence me asking if anyone had precise ask for more random docs/info? Thank you!

K_S

Herbie73 said:

Hi all so I got my help to buy equity loan sorted and everything has ploughed on ahead with the solicitor and valuation etc but precise keep asking more questions; I wait the 5-6 working days between each question and think they must have all of the info now then get more, for example this weeks was what are 3 PayPal payments of 4.99, 5.99 and 6.99. Anyway next week is the last week the house is reserved and I don’t know if they’ll extend the reservation at this point (new build and it’s complete and ready to move into) .. I was wondering whether anyone else who used precise could tell me the things they have been asked for so that I can prepare anything else that could be needed. I can’t spend days hunting for more documents etc if the deadline is upon us! So far I was asked for the details of the debts I pay monthly, the amount outstanding on those debts and these PayPal payments. I have ccjs which are paid off and I gave the evidence of that already. I can’t think of anything else they would ask for? I don’t have a DMP, I pay the debts on monthly instalments directly, would they ask for evidence of the instalments maybe? I could get that sort of paperwork ready if so. That’s all I can think of but being asked for PayPal details makes me think there’s more I wouldn’t have thought of! Hence me asking if anyone had precise ask for more random docs/info? Thank you!

@herbie73 Your broker would be best placed to answer your questions. However, based off of the limited info in your post, you may perhaps have got a nit-picking or fresh underwriter and the days are adding up because of the 5 day turnaround for each query.

Usually, as long as you can show that you have an application in, builders are usually ok with a bit of delay. Plenty of lenders including mainstream ones like Nationwide, Santander, NatWest, etc are often taking more than a month for straightforward applications so the builder should be familiar with mortgage processing related delays as long as you keep them updated.

Herbie73

K_S said:

Herbie73 said:

Hi all so I got my help to buy equity loan sorted and everything has ploughed on ahead with the solicitor and valuation etc but precise keep asking more questions; I wait the 5-6 working days between each question and think they must have all of the info now then get more, for example this weeks was what are 3 PayPal payments of 4.99, 5.99 and 6.99. Anyway next week is the last week the house is reserved and I don’t know if they’ll extend the reservation at this point (new build and it’s complete and ready to move into) .. I was wondering whether anyone else who used precise could tell me the things they have been asked for so that I can prepare anything else that could be needed. I can’t spend days hunting for more documents etc if the deadline is upon us! So far I was asked for the details of the debts I pay monthly, the amount outstanding on those debts and these PayPal payments. I have ccjs which are paid off and I gave the evidence of that already. I can’t think of anything else they would ask for? I don’t have a DMP, I pay the debts on monthly instalments directly, would they ask for evidence of the instalments maybe? I could get that sort of paperwork ready if so. That’s all I can think of but being asked for PayPal details makes me think there’s more I wouldn’t have thought of! Hence me asking if anyone had precise ask for more random docs/info? Thank you!

@herbie73 Your broker would be best placed to answer your questions. However, based off of the limited info in your post, you may perhaps have got a nit-picking or fresh underwriter and the days are adding up because of the 5 day turnaround for each query.

Usually, as long as you can show that you have an application in, builders are usually ok with a bit of delay. Plenty of lenders including mainstream ones like Nationwide, Santander, NatWest, etc are often taking more than a month for straightforward applications so the builder should be familiar with mortgage processing related delays as long as you keep them updated.

Thanks - unfortunately my broker is not great with communications and all he says is just wait. I’m not sure he has much experience with bad credit cases. Also unfortunately this build was delayed during covid so was sold complete and ready to
move into, they put a 6 week deadline on it and said they will put it back on the market after then…I’m hoping they will give me a little leeway but…