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  • FIRST POST
    • starrybear
    • By starrybear 5th Jul 16, 2:57 PM
    • 56Posts
    • 5Thanks
    starrybear
    Precise Mortgages - how long from application to offer?
    • #1
    • 5th Jul 16, 2:57 PM
    Precise Mortgages - how long from application to offer? 5th Jul 16 at 2:57 PM
    Hi all,

    I've searched for answers to this, but can't find anything recent.

    If anyone has dealt with Precise recently, I'd appreciate any insight into your timelines?

    Thanks in advance
Page 36
    • kyliann12345
    • By kyliann12345 3rd Jan 18, 11:42 PM
    • 1 Posts
    • 0 Thanks
    kyliann12345
    Finallyyy!!!
    Been following this forum for a long time now and after the long long wait we finally got our offer on Tuesday.

    We submitted our application on the 11th of Nov then had multiple request from Precise which I now see is normal.

    Was supposed to complete on our new build before christmas but due to the hold ups of precise this was not achieved.

    Now I am wondering how long it will be before the mortgage deeds are sent for us to sign from the conveyancer and how long this process will be. If anyone has any information on this it would be appreciated.
    • Hanperkins9
    • By Hanperkins9 10th Jan 18, 1:02 PM
    • 1 Posts
    • 2 Thanks
    Hanperkins9
    I wanted to post a positive story in here regarding Precise Mortgages for anyone who is interested.

    Mortgage Application Completed- 03.01.18
    Came Back For Some Paperwork-04.01.18 (Sent back the same day)
    Valuation Completed- 05.01.18
    Mortgage Offer Recived- 08.01.18 (Email)
    Paperwork Received via post- 10.01.18

    Overall a pretty quick application process... just our solicitors that seem to be holding up the process.

    Good to luck anyone still waiting.
    • ExplorerSG
    • By ExplorerSG 10th Jan 18, 2:33 PM
    • 4 Posts
    • 0 Thanks
    ExplorerSG
    Its now a waiting game to see if they offer us a mortgage.


    Full Application went in on Monday 8 January 2018....


    Broker came back asking for a few more documents today which we supplied . Now just waiting for more questions.
    • susannthe3cs
    • By susannthe3cs 20th Jan 18, 9:27 AM
    • 106 Posts
    • 42 Thanks
    susannthe3cs
    We made a full application in September but I think summat happend to documents so we will say November .. they had 3 month bank statements
    Payslips id list of debts to be paid off and list of what I want the money for (remortgage) I own the house 100% and want the money to do improvements xx
    Was initially rejected December as said my earrings werenít enough hadnít seen that I had swopped nhs jobs so was now on over the 15k they required so they kindly relooked at it and wanted 1st new payslip ....New direct debit details for my own not joint account
    Now want a tax credits letter with full new salary on despite me not going to earn that this tax year so I have done that and waited 2 week for it
    They havenít asked any questions re bank statement etc so Iím presuming thatís ok can you think if they may need anything else after this ?
    • AJK11
    • By AJK11 25th Jan 18, 2:42 PM
    • 26 Posts
    • 3 Thanks
    AJK11
    Hello just thought I would share our experience/journey so far.

    My partner has a squeaky clean credit score but nothing much on his report as has never used any credit before.

    I currently have a 'poor' credit score with 4 defaults in last 24 months. Total debt owing for these defaults is just over £3k. 1 default is settled, the other 3 I have payment arrangements for and there are explanations as to why the debts were incurred at the time.

    Both my partner and I are in full time employment earning a combined income of 45k per year.

    We were originally given a DIP with Vida homeloans and had agreed a sale on a property, however after a 3 week wait (seemed like much longer!!), they declined us and said we could appeal but they likely wouldn't even consider it without a 25% deposit which we couldn't do.

    We then went back to the drawing board, dropped our maximum budget considerably and started looking for properties we could afford to put down 25% on. Found a lovely house, agreed a price and had our offer accepted :-D

    Our mortgage broker submitted our full application to Precise 2 days ago (23rd Jan), today our broker called us to say they want to book the valuation in which I'm told is very good news!! They are completely satisfied with my credit history, affordability etc, the only extra info they have asked for is relating to proof of address history which we can hopefully sort out, but other than that I am very impressed with the speedy turn around of 2 days and hopefully will have our offer soon!

    Good luck to everyone else waiting to hear and congratulations to those with offers already :-D
    • elchapo
    • By elchapo 25th Jan 18, 9:45 PM
    • 22 Posts
    • 1 Thanks
    elchapo
    Great to see your getting through AJK11.

    My wife and I got a full application into Precise this morning via our broker. My wifeís credit history is squeaky clean but I have 2 defaults from almost 4 years ago. Hopefully, we should hear something in the next few working days as Precise appear to be working very fast. Fingers crossed!
    • AJK11
    • By AJK11 25th Jan 18, 10:45 PM
    • 26 Posts
    • 3 Thanks
    AJK11
    Ah good luck! Yes it's a quiet time of the year for house buying so they do seem to have a fast turnaround at the moment. I'm hoping we will have our offer within the next week or so,as long as the valuation goes ahead quickly and they get the report back promptly.

    Keeping everything crossed!
    • James2018
    • By James2018 27th Jan 18, 10:33 PM
    • 3 Posts
    • 0 Thanks
    James2018
    Hey all

    Quick question for any one who are now living in there new house who has a mortgage with precise. Did you get credit checked again before you completed. We have our offer and have exchanged . But havent completed yet. Just wondering if anyone did get checked again. Some other lenders seem to and some dont

    James
    • Cokibear123
    • By Cokibear123 28th Jan 18, 4:39 PM
    • 21 Posts
    • 2 Thanks
    Cokibear123
    Hi. We completed in December and no we didnít get rechecked. Hope all goes well for you.
    • James2018
    • By James2018 28th Jan 18, 5:39 PM
    • 3 Posts
    • 0 Thanks
    James2018
    Thanks thats great . i heard a few people say that they got re credit checked before there lenders released the funds
    • James2018
    • By James2018 28th Jan 18, 5:48 PM
    • 3 Posts
    • 0 Thanks
    James2018
    Cokibear123 how long did your whole process take. We have bought a new build and was about 2 or 3 months ago we had the offer
    • Cokibear123
    • By Cokibear123 29th Jan 18, 11:28 PM
    • 21 Posts
    • 2 Thanks
    Cokibear123
    Hi. Our mortgage took 3 weeks to get the offer through but took forever to complete due to our solicitors being a pile of poop. We put the application in September and the offer came through end of October but we only completed 19th December and even then it was cos I went mad at the solicitor. Hopefully youíll have a better solicitor than we did.
    • susannthe3cs
    • By susannthe3cs 30th Jan 18, 6:10 AM
    • 106 Posts
    • 42 Thanks
    susannthe3cs
    Finally yesterday we got our offer it!!!8217;s been a long road: not all Precise!!!8217;s fault I add, my advice is if you get tax credits make sure they match your income to the penny as waiting for a new award letter adds weeks which then makes your bank statements out of date so then it!!!8217;s a request for another ...
    • elchapo
    • By elchapo 30th Jan 18, 2:46 PM
    • 22 Posts
    • 1 Thanks
    elchapo
    Precise seem to be moving pretty quick so far. Our broker submitted our application last week. so far as follows:

    Thursday 25th: Submitted application
    Friday 26th: Case was reviewed
    Monday 29th: Survey/Valuation was instructed (for Friday 2nd Feb)

    So far so good.
    • AJK11
    • By AJK11 30th Jan 18, 10:38 PM
    • 26 Posts
    • 3 Thanks
    AJK11
    Little update, Precise came back to our broker on 25th Jan wanting to book in the valuation but also wanting a couple more bits for proof of address. Our broker told them to hold off on the valuation until they had all the proof of addresses they required and were satisfied with them. Still waiting at the moment as so far the proof we have provided for previous addresses is not acceptable to them? Also said a couple of scanned documents were too poor quality for them to read so need to resend them. So so stressed out waiting to just get all this sorted but taking it as a good sign that all they are asking for is proof of address rather than questions about credit history or affordability. The issue is that most bills and things these days are paperless and there seems to be very little that they will accept to prove a former address from 3 years ago :-/

    Congratulations to those with offers, hoping to post with the same good news myself soon!!
    • elchapo
    • By elchapo 31st Jan 18, 7:17 PM
    • 22 Posts
    • 1 Thanks
    elchapo
    Update of my case.

    Precise have come back asking for my tax Overview / SA302 for 2017 even though I have been with my employer for 6 months now on a £75k salary. I am hoping they just want to see that I was actually working as a contractor before taking a perm job and wasn't just sat at home. I only took a small salary of £16k from my business for obvious reasons but I am hoping this doesn't go against me.

    @AJK11, we were also asked today to provide proof of address for my wife from 2015. The only thing we can get is a bank statement downloaded from online banking. What did you provide for this?
    • AJK11
    • By AJK11 1st Feb 18, 1:15 PM
    • 26 Posts
    • 3 Thanks
    AJK11
    @elchapo A bank statement should be fine however we were told that an online one might not be sufficient and that we would need to actually go into branch and get them to physically post out a statement.
    I hadn't change my address with the bank for the address they required so have had to request a backdated council tax bill for 3 years ago and waiting for that to arrive in the post. They have some other proof of address from us too that we are waiting to hear back as to whether they will accept them, if not then will give them the council tax bill when it arrives.

    I'm keeping fairly positive as they have already had our payslips, bank statements, looked at credit report etc and no further questions regarding any of that so fingers crossed won't have to wait too much longer.
    • Marlon1234
    • By Marlon1234 1st Feb 18, 1:16 PM
    • 3 Posts
    • 0 Thanks
    Marlon1234
    Hi new to this but been following since December..
    We put out application in on 3rd Jan
    Hard search done on 5th jan
    Surveyour came round on 29th jan
    And we our mortgage offer today 1st Feb..
    My credit score is poor but all from 2012/13 ..
    I had to give 3months bank statement. Wage slips and proof of address as I wasn't in the electrol roll ....
    Everyone waiting I wish u all the best..
    • AJK11
    • By AJK11 1st Feb 18, 1:18 PM
    • 26 Posts
    • 3 Thanks
    AJK11
    Also just wanted to add that they came back to us two days after application went in and asked to book the valuation whilst waiting for proof of address history from us, however our broker recommended we wait and have it booked in once they are satisfied with our proof of address. So we may be delaying the offer slightly by doing that but don't want to lose the £410 and would rather be cautious, particularly as I've seen from this thread there are people who have had the valuation carried out early in the process and then been declined further down the line :-/
    • Marlon1234
    • By Marlon1234 1st Feb 18, 1:19 PM
    • 3 Posts
    • 0 Thanks
    Marlon1234
    I used bank statements from online banking that were date the years they wanted..they accepted mine.. hope this helps
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