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Hey folks, I am taking mortgage with Precise (Hate them so far - worst lender with their requirements never ending list), I am doing so in a company name and I need independent legal advise on a personal guarantee for this..
Anybody can recommend company with reasonable cost for this service in Manchester area? Also do I really need such a thing? I am Ltd company owner, director and financing my company myself so far..
Im using Precise too and yes the List is unending and so slow I started an application 6 weeks ago and still waiting for an offer
Im in Newcastle and I found a Local Solicitors after ringing around for a price
I know its the old fashioned way but hit the Phone
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
My own view is Precise are fairly good. They are slow and their queueing system is annoying but if you package a case properly then it will sail through. You cannot take shortcuts.
Sorry, I don't have appropriate legal contacts in Manchester
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
I got mortgage offer from them already.. But they still keeping coming with "extras".. I will never ever go again with Precise mortgage - waste my time -> I am on week 12 and still cannot get to the bottom with them..
I pride myself on paper work and I am a bit OCD on paper work to be honest I had the Valuation done on a purchase six weeks ago and It valued fine but I haven't seen the report Yet
My broker says that the Valuation report will come with the offer is this the new way its done now
I haven't purchased a new property since 2015
What does the offer say? Push back if you need to. You have an offer but it may have caveats. It sounds like the case was not packaged properly - enough for most lenders but not Precise who do look through everything in detail.
I haven't revived a offer yet I have a DIP but thats all
My broker has said its a queuing system he said I should have offer this week fingers crossed
Precise's current turnaround is 7 days. It varies according to their workload. If anything is missed (poor packaging!) then you will need another 7 days for your response to be considered. That is what is frustrating - so ensure your broker packages it correctly.
Precise is rather good when it comes to requirements.You should see some of the other guys! It may be personal experience though, Bespoke Finance are packagers for Precise Mortgages so we aim to have what's needed from outset.
In Manchester Area? I'd recommend a call to JMW. We often recommend this firm to complete the whole conveyancing process and they are very smooth when it comes to Personal Guarantees.Not sure what they are like when just doing personal guarantees but I'm sure as good as the next guy and generally are very reasonably priced.
_________________________________________________________________________My posts are not financial advice but often me rambling - passing time on a coffee break.Our team at Bespoke Finance offers Limited Company Buy-to-Let and Cheap Life Insurance._________________________________________________________________________