Platform (co-op) mortgages

AdamMc90

Hi all

Has anybody ever dealt with Platform before? Our broker is coming back to us that they're cheapest for us in a few different searches but I've never heard of them or heard anyone mention them before?

Has anybody had any dealings with them and could advise on how fast they are and how good etc.

Thanks a lot

Mortgage_Mark_2

They aren't fast.

Their rates are good, but their servicing is nothing to write home about.

AdamMc90

Are they particularly slow..? Customer serivce ok? They seem to be the way to go for me.

Thanks again

ACG

Looks like their service standards are normal now -http://www.platform.co.uk/intermediaries/support/service_standards.aspx

Last month that was showing about 16 working days!

They are co-op basically. Underwriters are the same. I used to work for co-op they only want plain and simple cases, but thats what they price for. If you have nothing unusual then you should be fine with them.

AdamMc90

Thanks for the info guys, we've decided to go ahead with Platform on a 5 year fixed at £565 a month and £105 in fees. Bit of research dug up an extra £30 fee if we don't take their buildings insurance and an extra £160 when we come to remortgage or move home and go with another lender, something to be aware of.

I'll keep this updated with their speed or any problems we have for anyone else thinking of going with them in the future.

ACG

The £30 fee is something some lenders do. Typically its the building societies.

The £160 deeds release fee is typical across lenders, it varies in price but I have seen them vary from about £90 to £170ish.

pinkteapot

A friend bought recently (last few weeks) and used Platform. Only negative he had was that there were lots of delays with his chain and in the end they couldn't quite complete before his mortgage offer expired. Platform point-blank refused any extension so he had to pay the application fees again. :eek: