Precise Mortgages - how long from application to offer?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1.9K replies 268.3K views
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Replies

  • KLHughesKLHughes Forumite
    68 Posts
    10 Posts Name Dropper
    Hi, does anyone know if the valuation fee is refundable? I’ve read that precise do the valuation straight away before underwrite with new builds and even though the broker says it fits criteria i’m still really panicking that it will decline because its quite a complicated case. So its not gonna be great losing nearly £500 if it declines to then have to pay another valuation fee to another lender 🤦‍♀️ Thank you
  • Millybob90Millybob90 Forumite
    25 Posts
    10 Posts Name Dropper
    KLHughes said:
    Hi, does anyone know if the valuation fee is refundable? I’ve read that precise do the valuation straight away before underwrite with new builds and even though the broker says it fits criteria i’m still really panicking that it will decline because its quite a complicated case. So its not gonna be great losing nearly £500 if it declines to then have to pay another valuation fee to another lender 🤦‍♀️ Thank you
    I think its non refundable I'm just looking through my paperwork for you see if it says anything.
  • homeowner_wannabehomeowner_wannabe Forumite
    27 Posts
    10 Posts Name Dropper
    Mine was refundable after completion, not sure what happens if the application is not successful.
  • obc18obc18 Forumite
    66 Posts
    10 Posts First Anniversary Name Dropper
    Ours was refundable. The solicitor transferred it back to me a couple of weeks after completion.
  • KLHughesKLHughes Forumite
    68 Posts
    10 Posts Name Dropper
    Thank you for replying, I know its refundable if the application is successful but I’m thinking more if the application gets declined. Thanks again 
  • Millybob90Millybob90 Forumite
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    10 Posts Name Dropper
    I cant find anything in my paper work but im sure I was told if declined its non refundable.
  • Philippa91Philippa91 Forumite
    26 Posts
    10 Posts Name Dropper
    Just got a call from our MB saying we got our mortgage !!! We're over the moon 😁😁😁
  • homeowner_wannabehomeowner_wannabe Forumite
    27 Posts
    10 Posts Name Dropper
    Just got a call from our MB saying we got our mortgage !!! We're over the moon 😁😁😁
    Congrats!!  🍾🍾🎉
  • Philippa91Philippa91 Forumite
    26 Posts
    10 Posts Name Dropper
    Just got a call from our MB saying we got our mortgage !!! We're over the moon 😁😁😁
    Congrats!!  🍾🍾🎉
    Thank you 🥳
  • KLHughesKLHughes Forumite
    68 Posts
    10 Posts Name Dropper
    Sorry another question about precise 🙈 Were many of you asked for 12 months bank statements? I believe its 3 initially but wondered how often they then ask for 12 months worth. Thanks again x
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