Precise Mortgages - how long from application to offer?
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My Mortgage has been approved!!
Application went in on 12/3/18 and offer received on 27/3/18. Given what I have heard about Precise I am quite impressed, don't think I could've taken the wait much longer!
Sooooo relieved!!!0 -
I have been following this thread with hope due to my own situation.
I applied for mortgage with broker, sent all my credit files. I have a default for a mobile phone which showed up in May of last year. I paid it the same month it went into default stage. It was actually a contract my ex husband had taken, I simply found it during divorce proceedings. My Experian file is perfect but my Equifax shows the default.
Long story short, my broker placed me with Santander and they declined due to default. That broker then said he could not place me anywhere else. I'm now with a new broker and have the DIP with Precise. They advised me the mortgage offer was pending valuation which was carried out last Thur.
I'm hoping to hear this week about the mortgage offer. Just very nervous given the previous broker advising I'd be unable to obtain a mortgage.0 -
I have been following this thread with hope due to my own situation.
I applied for mortgage with broker, sent all my credit files. I have a default for a mobile phone which showed up in May of last year. I paid it the same month it went into default stage. It was actually a contract my ex husband had taken, I simply found it during divorce proceedings. My Experian file is perfect but my Equifax shows the default.
Long story short, my broker placed me with Santander and they declined due to default. That broker then said he could not place me anywhere else. I'm now with a new broker and have the DIP with Precise. They advised me the mortgage offer was pending valuation which was carried out last Thur.
I'm hoping to hear this week about the mortgage offer. Just very nervous given the previous broker advising I'd be unable to obtain a mortgage.
We've got a mortgage offer with Precise and my husband has 3 defaults, so it is possible.0 -
We've got a mortgage offer with Precise and my husband has 3 defaults, so it is possible.
Thank you, that is reassuring. The issue is because it's under a year old apparently. I was told today that the underwritter had signed off on the valuation and that was the only thing outstanding so hopefully I get an offer soon. So stressful.0 -
Just a little update, we had a response from Precise on 23rd March (day after application submission) requesting us to sign the declaration, provide paper copies of my partner’s bank statements as they weren’t happy it’s the PDF downloads from online banking, his P60 (as they couldn’t find it), our home phone numbers and confirmation we hadn’t paid anything towards the deposit to the builder or solicitors yet. All of this was sent over within 2 hours.
We then had another response on 29th March, requesting my partner’s P45 from previous employer and first payslip from new employer (as he changed employer 11 months ago). These were sent over within an hour.
We’re now waiting for the next response as we’ve had the bank holidays in between.
In the meantime, the DD has been setup and the valuation is scheduled for today.0 -
Just a little update, we had a response from Precise on 23rd March (day after application submission) requesting us to sign the declaration, provide paper copies of my partner’s bank statements as they weren’t happy it’s the PDF downloads from online banking, his P60 (as they couldn’t find it), our home phone numbers and confirmation we hadn’t paid anything towards the deposit to the builder or solicitors yet. All of this was sent over within 2 hours.
We then had another response on 29th March, requesting my partner’s P45 from previous employer and first payslip from new employer (as he changed employer 11 months ago). These were sent over within an hour.
We’re now waiting for the next response as we’ve had the bank holidays in between.
In the meantime, the DD has been setup and the valuation is scheduled for today.
Well I’m happy to report that we now have our mortgage offer confirmed via phone and email, just have to wait for the paperwork in the post!!! 3 weeks from application to offer so not bad at all and with very few requests/questions.
Over the moon doesn’t quite cover it!0 -
Congratulations, it took about 3 weeks for ours too
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Well done!
I also got my mortgage offer through the post yesterday. Just transferred deposit and hoping to exchange next week. I don't quite believe it yet. Over the moon.0 -
We've just started the full application process with Precise Mortgages after getting a DIP on Friday. I've submitted all the documents to Mortgage Broker and they are waiting to hear back from Precise as to what documents they need. One thing I am slightly worried about is that we paid £440K for our house and there is another one still for sale for £430K. The one for sales does not have a big bay window, much shorter drive and is not a corner plot at the end of a cul-de-sac by the woods. I am hoping they do not undervalue ours to £430K otherwise we will be torpedoed.
My partner has one years of self employed books and I have an old default for £438 so I am not sure how risky they see as us. I think the mortgage product code is HBA38. We are FTB using HTB.0
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