Platform Mortgage

nakiwala123

nakiwala123 said:

Megandlg said:

Megandlg said:

Megandlg said:

So good to be seeing movement now!
our application was made on 5/8/20. 

Assessed yesterday (3/9/20). Query made re my employer address (council so lots of different offices), and valuation instructed. MA advises that if valuation is instructed, we are pretty much home and dry 😀. She will check next week for a date of when it will be done. 

Just starting to feel hopeful now! 

Further update from me:-
7/9/20- MA was advised by Platform that valuation & survey would be completed that day, and if all fine, the offer would be issued the next week. 

10/9/20- I received survey report, with house valued at purchase price. 

11/9/20- MA confirmed Platform had uploaded the valuation figures and again waiting ‘to be assessed’. 

14/9/20- MA spoke to Platform who said would be looked at by close of business the next day & had been allocated to an underwriter as a task. If acceptable, should go straight to offer. 

16/9/20- MA has escalated case to Platform as still no response. Should be looked at within 48hrs (fed up of hearing this now!). Platform were ‘very apologetic’. MA will update again on Fri 18th. 

Getting so frustrated now, walking around with a permanent stress headache and starting to wonder if it is all worth it.🙁

18th- told our case had again been escalated, would be dealt with in 3 working days, then go to final checks before an offer being made. 

22nd (today) am- case still waiting for assessment then final checks. 

22nd (today) pm- received email with an offer!! 

So 33 working days from application to offer. 

To the amusement of all my colleagues, I couldn’t resist a happy dance around the office! 😀😀😀😀

Right that's it! I'm doing a you tomorrow. What do you say to get things escalated? Our buyers are very desperate to move in with a hastily long school commute of over 200 miles a week. 

Well that was a waste of time. I called, tried to get our application escalated as we are on the verge of losing our buyers, Platform just continued to sing the same song; 'we have many applications, so 14 working days for offer to be received still stands, blah, blah....'. We have agreed to break the chain and exchange contracts today on our sale and complete on 8th Oct. I can't imagine that even if we will received the offer by then, our solicitor still needs 5 days to draw down the funds for our onward purchase so we shall be homeless for a while from 8th Oct till whenever Platform can get the offer out to our solicitor. This is all sh*t really. 

Megandlg

nakiwala123 said:

I am going to have to call the bank first thing tomorrow morning. Our buyers are almost  losing a school place for their son if they haven't exchanged in a week as they need to have the address on the application. I will try the escalate phone call tomorrow. 

That’s awful, hope Platform pull their finger out for you. 

Not sure what my MA had to do to escalate my case, whether they had to do it online or just complained very loudly by phone. It seems to have had the desired effect for me anyway, so good luck! 

madwife260

Can I be a pain can I ask about queries.....I know im still in the waiting period of my application being looked at, but I want to save some time when I finally does get there. What types of questions are the underwriters asking when they are wanting extra information. 

[Deleted User]

madwife260 said:

Can I be a pain can I ask about queries.....I know im still in the waiting period of my application being looked at, but I want to save some time when I finally does get there. What types of questions are the underwriters asking when they are wanting extra information. 

It'll be queries about transactions on your bank statement, possibly your wages, employment etc. It really depends on what your circumstances are with regards to credit, employment, money, etc. 

[Deleted User]

Working day 43 today. Not expecting any offer still!
 working day10 of 2 of "Your case is going back to the case handler and if they're happy with the documents it'll go straight to offer, and we'll hear something within two working days" 

madwife260

DeletedUser said:

madwife260 said:

Can I be a pain can I ask about queries.....I know im still in the waiting period of my application being looked at, but I want to save some time when I finally does get there. What types of questions are the underwriters asking when they are wanting extra information. 

It'll be queries about transactions on your bank statement, possibly your wages, employment etc. It really depends on what your circumstances are with regards to credit, employment, money, etc. 

Thankyou so much.  We literally have wages going in each month, not been furlough, and our loan and car finance going out,  my daughter pays us a little rent as she's 18 so I'm expecting them to query that, but nothing else is obvious just normal monthly spends. I cant believe its taking them so long to process everything. 

Finger's crossed you hear something soon. 🤞

Sleepflower

Application went in 11 sept via our MA. They haven't been able to get any information from Platform when the file will be looked at but said  "at present Platform are taking around 17-20 working days to initially assess applications meaning they we are in a queue waiting for the file to be picked up by the underwriters. As the application was submitted on 11th September, I believe we are likely to hear towards the later part of next week or early part of the following week. We are due to exchange on our sale in a couple of weeks with the buyers solicitor pushing for completion shortly after! The people we're buying from are getting twitchy too. In a worse case scenario we will have to complete, be homeless not knowing if we will get the mortgage. If I'm correct reading the posts trying to escalate an application doesn't seem to make any difference. Such worrying times - good luck everyone x

rdunn_

Sleepflower said:

Application went in 11 sept via our MA. They haven't been able to get any information from Platform when the file will be looked at but said  "at present Platform are taking around 17-20 working days to initially assess applications meaning they we are in a queue waiting for the file to be picked up by the underwriters. As the application was submitted on 11th September, I believe we are likely to hear towards the later part of next week or early part of the following week. We are due to exchange on our sale in a couple of weeks with the buyers solicitor pushing for completion shortly after! The people we're buying from are getting twitchy too. In a worse case scenario we will have to complete, be homeless not knowing if we will get the mortgage. If I'm correct reading the posts trying to escalate an application doesn't seem to make any difference. Such worrying times - good luck everyone x

I rang platform direct for the first time this week and know more now than the 7 weeks it's been with my broker. The people at platform are really nice and helpful. I called on Monday and they advised that my broker had not informed them that I had uploaded documents. Platform then put an urgent chase for the file to be considered within 3 working days. I called them yesterday to try my luck and they advised it is due to be looked at today. I asked what has actually happened so far and thy advised that it has been through valuation and they needed one more bit of info to make an offer which was the payslips my broker didn't tell them was uploaded.

For peace of mind I would recommend calling them once a week as this could help move things along.

nakiwala123

rdunn_ said:

Sleepflower said:

Application went in 11 sept via our MA. They haven't been able to get any information from Platform when the file will be looked at but said  "at present Platform are taking around 17-20 working days to initially assess applications meaning they we are in a queue waiting for the file to be picked up by the underwriters. As the application was submitted on 11th September, I believe we are likely to hear towards the later part of next week or early part of the following week. We are due to exchange on our sale in a couple of weeks with the buyers solicitor pushing for completion shortly after! The people we're buying from are getting twitchy too. In a worse case scenario we will have to complete, be homeless not knowing if we will get the mortgage. If I'm correct reading the posts trying to escalate an application doesn't seem to make any difference. Such worrying times - good luck everyone x

I rang platform direct for the first time this week and know more now than the 7 weeks it's been with my broker. The people at platform are really nice and helpful. I called on Monday and they advised that my broker had not informed them that I had uploaded documents. Platform then put an urgent chase for the file to be considered within 3 working days. I called them yesterday to try my luck and they advised it is due to be looked at today. I asked what has actually happened so far and thy advised that it has been through valuation and they needed one more bit of info to make an offer which was the payslips my broker didn't tell them was uploaded.

For peace of mind I would recommend calling them once a week as this could help move things along.

I have called them every week since our application was received on 7th August. The last few weeks I have called twice at least and I will say that our application has not been accelerated by any of my calls. I was quite desperate yesterday when I called yesterday morning as our buyer were threatening to pull out if we didn't exchange due to our delays with waiting for an offer from our bank. Platform were unmoving. I wouldn't be surprised if chains have collapsed due to our bank's delays. 

nakiwala123

Sleepflower said:

Application went in 11 sept via our MA. They haven't been able to get any information from Platform when the file will be looked at but said  "at present Platform are taking around 17-20 working days to initially assess applications meaning they we are in a queue waiting for the file to be picked up by the underwriters. As the application was submitted on 11th September, I believe we are likely to hear towards the later part of next week or early part of the following week. We are due to exchange on our sale in a couple of weeks with the buyers solicitor pushing for completion shortly after! The people we're buying from are getting twitchy too. In a worse case scenario we will have to complete, be homeless not knowing if we will get the mortgage. If I'm correct reading the posts trying to escalate an application doesn't seem to make any difference. Such worrying times - good luck everyone x

We too are going to be homeless for a while between our sale completion and completing on our purchase. All because everybody in our chain has been waiting for the last 5 weeks for our mortgage. We made the decision to break the chain due to this. How long we are homeless for will depend on when we receive the offer. Could be a few days but really hoping it won't be more than a couple of weeks. Still irritating having to move our stuff twice.