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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 41
    • jessicap1995
    • By jessicap1995 27th Mar 18, 9:19 PM
    • 1 Posts
    • 0 Thanks
    jessicap1995
    hi all,
    i have a DIP have given all the info and paperwork ive been asked for up to this point, I'm now waiting on a tax credit letter that shows how much i will be getting as my partner has earnt more last year than the year before. cannot wait for it all to be over with!
    hows everyone getting on?
    • BAMBIESFRIEND
    • By BAMBIESFRIEND 29th Mar 18, 10:00 AM
    • 5 Posts
    • 1 Thanks
    BAMBIESFRIEND
    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!!!
    • Sjmc
    • By Sjmc 5th Apr 18, 12:11 AM
    • 4 Posts
    • 0 Thanks
    Sjmc
    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.
    • steph2901
    • By steph2901 5th Apr 18, 8:26 PM
    • 310 Posts
    • 204 Thanks
    steph2901
    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.
    Originally posted by Sjmc
    We've got a mortgage offer with Precise and my husband has 3 defaults, so it is possible.
    • Sjmc
    • By Sjmc 6th Apr 18, 12:45 AM
    • 4 Posts
    • 0 Thanks
    Sjmc
    We've got a mortgage offer with Precise and my husband has 3 defaults, so it is possible.
    Originally posted by steph2901
    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.
    • tonyp1983
    • By tonyp1983 9th Apr 18, 12:25 PM
    • 6 Posts
    • 0 Thanks
    tonyp1983
    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 partnerís bank statements as they werenít happy itís the PDF downloads from online banking, his P60 (as they couldnít find it), our home phone numbers and confirmation we hadnít 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 partnerís P45 from previous employer and first payslip from new employer (as he changed employer 11 months ago). These were sent over within an hour.

    Weíre now waiting for the next response as weíve had the bank holidays in between.

    In the meantime, the DD has been setup and the valuation is scheduled for today.
    • tonyp1983
    • By tonyp1983 11th Apr 18, 12:53 PM
    • 6 Posts
    • 0 Thanks
    tonyp1983
    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 partnerís bank statements as they werenít happy itís the PDF downloads from online banking, his P60 (as they couldnít find it), our home phone numbers and confirmation we hadnít 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 partnerís P45 from previous employer and first payslip from new employer (as he changed employer 11 months ago). These were sent over within an hour.

    Weíre now waiting for the next response as weíve had the bank holidays in between.

    In the meantime, the DD has been setup and the valuation is scheduled for today.
    Originally posted by tonyp1983
    Well Iím 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 doesnít quite cover it!
    • steph2901
    • By steph2901 11th Apr 18, 4:26 PM
    • 310 Posts
    • 204 Thanks
    steph2901
    Congratulations, it took about 3 weeks for ours too
    • tonyp1983
    • By tonyp1983 11th Apr 18, 9:23 PM
    • 6 Posts
    • 0 Thanks
    tonyp1983
    Congratulations, it took about 3 weeks for ours too
    Originally posted by steph2901
    Thank you, was expecting it to take much longer so it was a brilliant surprise to get the call this morning.
    • Sjmc
    • By Sjmc 12th Apr 18, 11:50 AM
    • 4 Posts
    • 0 Thanks
    Sjmc
    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.
    • MG42Maniac
    • By MG42Maniac 12th Apr 18, 4:38 PM
    • 11 Posts
    • 0 Thanks
    MG42Maniac
    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.
    • MG42Maniac
    • By MG42Maniac 13th Apr 18, 1:44 PM
    • 11 Posts
    • 0 Thanks
    MG42Maniac
    Precise have instructed a valuation for Tuesday 17th and today we received the DD confirmation. Precise also reached out to my broker and asked for 3 x payslips (for me), P60, SA302 (partner) and ID. They did not ask for Bank Statements, is this normal!?
    • Flossy491
    • By Flossy491 15th Apr 18, 9:54 AM
    • 3 Posts
    • 0 Thanks
    Flossy491
    Hi there, weíve been following this thread for a few weeks now. Hope someone can give me a boost that I need. We got a AIP at the beginning of March and the full application was submitted on 27/03. Fee taken and DD letter signed and returned on 29/03. Valuation done on 11/04. We have a broker working on this for us and heís had everything paperwork wise in advance of the application going in. The only thing he asked for was a Ďdisclosure of incentives formí from the builder. We are worried sick about not getting our offer. Weíve paid the builder a £500 reservation fee and search fees have been paid to solicitors. HTB is also in place. Iím hoping to hear something next week as canít take much more. Canít sleep, canít eat. Driving me crazy! !!!128542;
    • Flossy491
    • By Flossy491 15th Apr 18, 9:55 AM
    • 3 Posts
    • 0 Thanks
    Flossy491
    I think they will ask for bank statements eventually. Maybe worth getting 3 months worth ready so you have them ready to send across when needed, save holding things up. Good luck !!!128521;
    • MG42Maniac
    • By MG42Maniac 17th Apr 18, 9:24 AM
    • 11 Posts
    • 0 Thanks
    MG42Maniac
    Update:
    16-APR-2018: Precise have come back and asked for the Signed Standard Declaration. I might be thinking into this too much but I am wondering if we have passed the "credit score and affordability" and are now on document confirmation? Valuation is taking place today.
    • Sjmc
    • By Sjmc 17th Apr 18, 6:14 PM
    • 4 Posts
    • 0 Thanks
    Sjmc
    Hi, it's unlikely that they would do the valuation if you had not passed initial credit checks. My broker asked for the valuation to be done last. I had 1 default from last year and was applying on my own. If you are using HTB then it's a new build?? With new build homes I was informed its just a tick box exercise and they are nearly always valued at the builders price.
    • MG42Maniac
    • By MG42Maniac 18th Apr 18, 1:20 PM
    • 11 Posts
    • 0 Thanks
    MG42Maniac
    18-APR-2018:

    Precise have asked for 3 months bank statements for me only, this is because the DD is coming from my account. Slightly worried as we do most of the "living" from my partners account so mine is run down every month.

    They also wanted clarification on the following:
    1) If our housemate (on the electoral roll at our current address) was moving with us. He is not as he is actually just about to move into a flat he's just bought.
    2) Estimated exchange and completion dates
    3) Incentives offered by the seller
    4) They want us to resign the Standard Declaration as we missed a tick in one of the boxes

    Seems like pretty standard stuff and hopefully slowly getting towards to end goal!
    • Ginalouise
    • By Ginalouise 19th Apr 18, 3:16 PM
    • 3 Posts
    • 0 Thanks
    Ginalouise
    I know the feeling, we put our full application in to Precise just after Easter, then a few days later the broker comes back and says Precise have asked for proof of address for my partner for 2016, a bank statement for me that they were missing from beg February, confirmation that my DMP is paid off and who all the creditors were and some other bits. Then on Monday the broker emailed me saying Precise were asking about a couple of things showing on my bank statement for Jan, one was a huge amount from my grandfather when he helped me finish payment my DMP and the other was money back from one of the creditors because I had overpaid, they also wanted to know about a DWP deduction showing on my partner's wage slip. So I explained all that to the broker who put it to Precise on Monday. And today the solicitor I'm using to sell my flat emailed me because they need some money to get a management pack from my landlord. But that's nearly £300 so I've told solicitor I am waiting to get my mortgage approved before I pay it. So now we are just waiting on Precise, called the broker today and she is hoping for an update today or tomorrow and said she'll chase up tomorrow if she hasn't heard. So fingers crossed
    • Ginalouise
    • By Ginalouise 19th Apr 18, 3:18 PM
    • 3 Posts
    • 0 Thanks
    Ginalouise
    They also wanted to know our estimated exchange and completion dates but how are we meant to know until they say they will give us the mortgage? They've also had disclosure of incentives form off us
    • Ginalouise
    • By Ginalouise 19th Apr 18, 5:19 PM
    • 3 Posts
    • 0 Thanks
    Ginalouise
    Update for you all, about an hour after I last posted I got a call from my broker who advised Precise are happy with my case so far and have instructed the valuation. And then got to do some final checks once they are happy with the Valuation before they send the mortgage offer to us. My broker is confident it should all go through !!!55357;!!!56842;
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