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Precise mortgages decline Lyndseyjack

Posted: Wed Feb 22, 2017 8:59 pm
by PoppingSkulls97
Hello,



Looking for some advice please.



Our story so far with Precise. LTV 75%. Combined income 52K. Mortgage 127000. 2 defaults on my account dating 3 and 2 months years old and 5 years old. Clean sheet with no missed payments for 3 years. Only debt 8.5k loan from my husband. AIP obtained and passed all affordability.



Full application submitted through a broker on 30/9/16.

Full credit checks done and valuation fee taken the same day.



On the 7/10/16 precise refunded our valuation and declined our application due to a recent default.



After talking to our broker and explaining there definitely was no default they asked for copies for both myself and husband. They agreed after looking through them that the last default registered was over 3 years ago and settled. They plan to appeal the decision.



Is it likely if they've made a mistake that this would turn it around in our favour. Absolutley devastated that we could lose the house we want so much over an error.



Any advice welcome.

Posted: Thu Feb 23, 2017 8:42 am
by babette
It looks like either your broker made a mistake by placing it with Precise (there might have been other more suitable options) or Precise made a mistake when assessing your application.



Hard to tell which it might be from the information you have.



If Precise have made a mistake then it should be overturned on appeal.






Is it likely if they've made a mistake that this would turn it around in our favour. Absolutley devastated that we could lose the house we want so much over an error.

Any advice welcome.
Originally posted by Lyndseyjack



Posted: Thu Feb 23, 2017 12:54 pm
by aliaalias



2 defaults on my account dating 3 and 2 months years old and 5 years old.
Originally posted by Lyndseyjack


Where the defaults settled in full, if so when, and how much are the defaults for.

Posted: Thu Feb 23, 2017 11:27 pm
by convergent
If precise have made a mistake they will overturn their decision.



Can you correct this sentence? I months and years would result in very different answers. Assuming 3 and 2 years there should be other options.




2 defaults on my account dating 3 and 2 months years old and 5 years old.



Posted: Fri Feb 24, 2017 11:24 am
by PoppingSkulls97
1st default was October 2011 for 600 and the 2nd was for 2000 in August 2013. All settled in full in 2014. Precise were aware of these on application.

Posted: Sat Feb 25, 2017 5:10 am
by lucoatom
Did the broker check the files from all three major credit reference agencies?

Posted: Sat Feb 25, 2017 11:30 am
by PoppingSkulls97
Yes all files were checked and rechecked when it was declined. I've also spoken to experian and equifax who have also confirmed there are no defaults registered other than the ones I've mentioned.

Posted: Sat Feb 25, 2017 3:34 pm
by fe
So the adverse is 3+ years old and no late/missed payments on anything in the last two years?



Who were the creditors for the defaults?



Were any high street lenders tried first, as I wouldn't have headed straight to Precise with this?

Posted: Sat Feb 25, 2017 7:51 pm
by PoppingSkulls97
The creditors were capital one in 2011 and Lloyd's bank in 2013. No other late payments. My history is clean for 3 years. My husbands has nrver been an issue. Our broker said he had tried with halifax and we're declined an AIP.

Posted: Sun Feb 26, 2017 1:25 pm
by aurignacian
From what you've stated about your defaults you're likely to get a better deal elsewhere so you've probably dodged a bullet anyway.