Platform - are they a good lender?

elnana123

Hi all

Our mortgage advisor has advised us to get a mortgage from Platform (part of the co-op). Their rates are really good but I don't know any one who has used them before, nor can I find any reviews online.

Has anyone taken out a mortgage with them? What was your experience?

Thanks very much

ACG

Ive done a few with them.
They are a little quirky and strict, but I think every case I have sent to them has been accepted.

elnana123

Great thank you. Have they been easy to deal with? And what do you mean by quirky :-)

ACG

Quirky in the sense that they can be a little restrictive in areas that may catch out some people. As Platform only deal with brokers, I am sure you will be fine.

They are fine to deal with. They seem to have relaxed a little, in the past they used to be a little pedantic at times but the last few cases I have sent them have gone through fine.

KTD10

We got our mortgage through Platform earlier this year. My only complaint would be that they are pretty slow to make decisions, as in weeks as opposed to days but that's not uncommon.
We also had fairly unique circumstances (both my husband and I are full time students) but they offered us a pretty decent rate and we have no complaints since completion.

uclown2002

ACG wrote: »

As Platform only deal with brokers, I am sure you will be fine.

My platform mortgage is due for renewal in next 6 months, but was hoping to arrange remortgage myself and save on broker fees.

Are they not likely to make me an offer without using a broker?

ACG

Im not sure, but I think if you are an existing customer there will be a way of switching products directly. Probably one to check with them though - and maybe let us know on here so others in the same position will know the answer also.

MinaNelson

I have a credit score of 970 and was rejected on the grounds of low credit score. This has left a footprint on my record and I am scared to apply for a mortgage with other lenders. When I phoned them up they were not helpful and did not give any explanations. 

lspell1

MinaNelson said:

I have a credit score of 970 and was rejected on the grounds of low credit score. This has left a footprint on my record and I am scared to apply for a mortgage with other lenders. When I phoned them up they were not helpful and did not give any explanations. 

Each lenders have their own credit scoring models. I've seen plenty of cases of Applicants having a 999 Experian Credit score and being declined by Lenders due on Credit Check.
In your case, i'd say it's worth checking whether you have any financial associates linked to you that might have Bad Credit if your credit is clear. As platform will likely decline apps where there is a financial association with adverse credit.