Application Process with Platform Mortgage

Sarahlynb

Has anyone had any experience of processing a mortgage application with Platform?

They've been incredibly slow in the process so far I feel. We phoned to apply on 24th July and after a 5 minute discussion around income we get asked to book a 3 hour financial in depth chat with one of their advisors on 6th August (the closest appointment they had available) who was to send the paperwork out within 5 days which is now past. I phoned today to ask where it was and they advised it had just been sent for printing and might not be with me until the end of the week.

My entry date is 12th September. Will I get this all sorted on time and is this normal? It's so stressful!

Is there anything that held anyone's application up?

slinger55

I went through a Broker with Platform - I didn't realise they did Mortgages without a broker.

My timeline was:
Mortgage Application submitted to Platform via Trussle - 19/07/19
Hard credit check by Platform - 19/07/19
Valuation done - 26/07/19
Broker received valuation for our offer value - 30/07/19
More information about employment requested and sent - 30/07/19
Mortgage Approved - 02/08/19

What paperwork are they posting to you? Have you had DIP yet?

JayCeeEssex

I must admit that I am somewhat surprised that Platform are dealing with you on a direct basis. I have always been under the impression that they are an intermediary only lender!
I do believe that they will deal directly with clients once they have an existing mortgage with Platform but only for changing product.
I would suggest that you contact Platform again to ensure that you have got this right!

Sarahlynb

I am an existing mortgage customer with platform increasing my mortgage with them but still going through the normal application process.

Thanks for your help.

u39mm7

Hi,


I just applied with them. The timeline was as follows: Day 0 - have chat with broker, Day 1 - broker submits all paperwork, Days 2 - 5 nothing, Day 6 - Approved, no questions at all.


At some point they had managed to do their own valuation of my prospective property in Scotland.


They clearly say on their website that you should expect to hear nothing until the sixth working day following the day your broker submits the paperwork. The average offer time is 12 days.


But you are an existing customer so not sure if the same timescales apply to you. Good to know that they are a bit slower with their existing customers so I can plan ahead if I need to switch down the line!

Sarahlynb

They are posting my application pack to me to apply for the increase in my mortgage. I then have to send this back to them with I imagine payslips etc.