Platform Mortgage

saw1987

unicorn1991 said:

saw1987 said:

Can anyone help please ! My other half rang platform for an update. They said we have a few documents outstanding and advised him that the loan amount has changed from £160k to £155k When originally they said he could have up to £170k. He didn’t question it as he is hopeless. So I got in touch with MA to see what’s going on, still
waiting for a response. Does anyone have an idea what’s happened? Or had a similar situation. Thanks In advance 

That happened to us, we agreed to pay the difference, platform asked for new bank statement so they can verify we have money in our account to pay. 

They finally got back to our MA and said it was due to the last months pay slip being not as much as previous months. It was only £200 less so don’t know how they could deduct £5,000 because of that. Luckily we have very generous family who have gifted the amount to us, otherwise we would have had to pull out. 

Sleepflower

DeletedUser said:

The reason the solicitor hasn't got her copy is because Platform put the wrong details! Absolutely fuming 

OMG I'm so sorry to hear this

newhome2003

Hi! Does anyone know when platform do your employment checks? We have had queries and now back in 6day turn around queue!

Thanks! 

CPFC244

Hi all,

I've been following this thread for a few weeks and found it useful to know others were in the same boat! My solicitor finally received my mortgage offer yesterday (I've not yet received this in the post yet) so just thought I would post my timeline and tips in case it is of use:

27/08/20 - Application submitted

28/09/20 - Application looked at by Platform and queries sent to MA

30/09/20 - Queries returned to Platform by MA

02/10/20 - I phoned Platform myself to check all documents had been uploaded and asked how long it would take to look at these. At this point they said they would put a task on it which can take up to 5 working days (As others have mentioned, it seems important that Platform are either phoned up by yourself or your MA otherwise I am not sure when they set the task?)

09/10/20 - I phoned 5 working days later and I was advised that my loan amount had been decreased. I obviously wasn't happy with this so I called my MA who spoke to Platform. Platform simply advised that their affordability calculator was coughing out this lower maximum amount despite there no good reason. Luckily I could cover the difference but it's really frustrating. As a result of the new loan amount, a form had to be submitted by my MA which was the same day and I was told that this was going to offer so another 5 working day task.

16/10/20 - I phoned up Platform and they advised that the offer had been faxed (yes, they fax them!) to my solicitor on 15/10/20. My solicitor hadn't received this so I phoned up 20/10/20 to ask them to re-send this and it was then received.

Apologies for the long post but hope it might be of some help.

I strongly recommend calling Platform yourself every time something is uploaded/every 5 working days (or 6 as some people are saying now).

Also, if you call at 9am you do get through pretty immediately, otherwise it is a long long wait on the phone!

I must admit they have always been extremely helpful on the phone.

Good luck everyone!

CraftySquirrel

Sleepflower said:

I'm beginning to totally lose it with Platform. They're unbelievably slow with everything and it seems from reading through this thread, incompetent on many levels.  Platform have said today it's going to be (another) 6 working days until they assess our file again (MA sent across requested additional information). I was advised by Platform after holding on the line for 2 1/2hrs, that if they require any further information once they've looked at what we sent them yesterday,  it will be another additional 6 working days again! I don't hold my breathe on the 6 working days as I've read some people on here have had to wait a hell of a lot longer than that.
So taking in to account on the additional time they are going to take we're now in the situation of having to make the decision to pull out from the sale of our house as our buyers solicitor is pressuring us to exchange imminently. We can not exchange not knowing if we have the mortgage - as we could potentially be homeless! I told Platform this to which it seemed with their reply.... there is nothing we can do.
I spoke to our MA about this, who said every lender is taking 3x as long at the moment. That's rubbish as we know that some of our friends, also self employed/directors so not straight forward PAYE, have received their offers within 25 days from application even when they were requested for additional information etc. Their lenders are Halifax, Virgin, NatWest ands Leeds B Society.
Sorry for the rant folks, only wish I had some positive news xx

My update today, the 5th working day from which they said they would get back to us within 5 working days, is... nothing. Not heard anything.
Have contacted my broker to ask them to chase. Unlike you I'm not in any rush, but this is getting ridiculous now.
Absolutely agree with your comments re other lenders - a friend of mine had her offer from Natwest all done and dusted within 6 working days, and she had to provide info re furlough etc. She only put her house on the market a few weeks ago, yet we started this at the beginning of August and she's now way ahead. 
52 working days and counting...

CraftySquirrel

Recap and update - 

• 6 and 7 August - completed application with broker who submitted late on 7th.
• 10 August - 1st working day (Monday)
• 8 September - called broker to ask how long they were expecting applications to take. They had been told it was taking 23 working days for them to look at applications. 
• 10 September - couple of queries re bank statements and asked for proof of deposit (in another bank account hence the Q) (23rd working day, so bob on what the broker had been told)
• 23 September - ran Broker who advised that he expected me to next hear from Platform on the 23rd working day from 10 September. A couple of other forum members advised that they had been told that once further docs were requested that they would hear (or had heard) in approx three working days.
• 14 October - 24th working day from 10 September. Broker contacted Platform and were told that they were now escalating and I would hear within five working days.
• 22 October - 6 working days later, Broker heard from Platform who are inexplicably now asking what the sale price of my current property is!!!! I've told them, but they are saying it will be another five working days. 

Absolute joke. My poor broker is now on hold to them with a call wait time of 1 hour. She is going to hang on as long as she can before the school run. If I had my time again and knew what I know now, I'd be avoiding Platform like the plague, and will be telling everyone I know to avoid them at all costs. 

[Deleted User]

CraftySquirrel said:

Recap and update - 

• 6 and 7 August - completed application with broker who submitted late on 7th.
• 10 August - 1st working day (Monday)
• 8 September - called broker to ask how long they were expecting applications to take. They had been told it was taking 23 working days for them to look at applications. 
• 10 September - couple of queries re bank statements and asked for proof of deposit (in another bank account hence the Q) (23rd working day, so bob on what the broker had been told)
• 23 September - ran Broker who advised that he expected me to next hear from Platform on the 23rd working day from 10 September. A couple of other forum members advised that they had been told that once further docs were requested that they would hear (or had heard) in approx three working days.
• 14 October - 24th working day from 10 September. Broker contacted Platform and were told that they were now escalating and I would hear within five working days.
• 22 October - 6 working days later, Broker heard from Platform who are inexplicably now asking what the sale price of my current property is!!!! I've told them, but they are saying it will be another five working days. 

Absolute joke. My poor broker is now on hold to them with a call wait time of 1 hour. She is going to hang on as long as she can before the school run. If I had my time again and knew what I know now, I'd be avoiding Platform like the plague, and will be telling everyone I know to avoid them at all costs. 

Just make sure Platform have got your solicitor details correct, as you don't want to get to the point where your offer is on your doorstep, all solicitor enquiries, searches, etc are complete, and you're ready to exchange, only to discover that your Solicitor hasn't received their copy of your Mortgage. So your solicitor has to spend a couple of hours on the phone to Platform who then have to re issue the Mortgage with the correct solicitor details on the pack. This has delayed my exchange and completion  date by at least two weeks, totally unnecessarily.  
My application went to offer on 7th October (After submitting the application on 24th July!) I got a digital copy on 13th October, and the paper copy in the post on 14th October. My Solicitor was away last week and was back 19th October, only to discover no Mortgage pack had been sent to her, but it had instead been sent to their head office. 

I would also recommend to anyone reading these forums to avoid Platform like the Plague, unless you have plenty of time on your hands, and plenty of patience. 

I understand the world is different right now and organisations are operating at limited capacity, but to still be waiting for the Mortgage to be sorted heading into the last week of October is a bit of a joke! My original ETA was 3-4 weeks! 

unicorn1991

12ch12 said:

unicorn1991 said:

DeletedUser said:

The reason the solicitor hasn't got her copy is because Platform put the wrong details! Absolutely fuming 

Has your solicitor got it now? 
We phoned platform again this morning, 2 hours waiting before someone answered phone, told us they were going to fax the offer to our solicitors today (originally said this Friday), we were over the moon, we finally got somewhere, maybe we could exchange this week! 
But what happened next was totally unexpected. 
Got phone call from platform this afternoon, they said our solicitor is not on their panel anymore, so they couldn't fax the offer to them. We couldn't believe our ears, they had always been on their panel. Phoned solicitor and been told they didn't re register with platform recently (we phoned them months ago to tell them to update their details with planform to stay on their panel). Unbelievable! We feel like crying. Five month's stressful waiting, thought we were seeing light at the end of tunnel, and now this, pulling our hair out now. 

Oh no this is awful I’m so sorry to hear
What position does this leave you in? Do you now need to look at using another solicitors or can they update their details now to go on the panel?

It would take them 4-6 weeks for them to get back on the panel again, we told the solicitor to do that a few months ago, she didn't do it, totally her fault. We now have found a new solicitor to take over the case, but will have to pay two sets of fees, as the original solicitor has got all the work done, everything was ready for exchange just waiting for mortgage offer, so we have to pay her for the work she has done. And the new one charges us extra due to "complication and extreme urgency involved" . 

Phoned platform again this morning, but sounded like call centre, couldn't tell us anything, just said someone will call us back, god knows how long this will take.  

qwerty567111

So I've heard back today and the valuer submitted a zero valuation and has requested a structural engineers report. Also, a Damp & Timber report will be a condition of requirements on any Mortgage Offer.

I guess this means they'll be lowering their lending offer?

unicorn1991

DeletedUser said:

CraftySquirrel said:

Recap and update - 

• 6 and 7 August - completed application with broker who submitted late on 7th.
• 10 August - 1st working day (Monday)
• 8 September - called broker to ask how long they were expecting applications to take. They had been told it was taking 23 working days for them to look at applications. 
• 10 September - couple of queries re bank statements and asked for proof of deposit (in another bank account hence the Q) (23rd working day, so bob on what the broker had been told)
• 23 September - ran Broker who advised that he expected me to next hear from Platform on the 23rd working day from 10 September. A couple of other forum members advised that they had been told that once further docs were requested that they would hear (or had heard) in approx three working days.
• 14 October - 24th working day from 10 September. Broker contacted Platform and were told that they were now escalating and I would hear within five working days.
• 22 October - 6 working days later, Broker heard from Platform who are inexplicably now asking what the sale price of my current property is!!!! I've told them, but they are saying it will be another five working days. 

Absolute joke. My poor broker is now on hold to them with a call wait time of 1 hour. She is going to hang on as long as she can before the school run. If I had my time again and knew what I know now, I'd be avoiding Platform like the plague, and will be telling everyone I know to avoid them at all costs. 

Just make sure Platform have got your solicitor details correct, as you don't want to get to the point where your offer is on your doorstep, all solicitor enquiries, searches, etc are complete, and you're ready to exchange, only to discover that your Solicitor hasn't received their copy of your Mortgage. So your solicitor has to spend a couple of hours on the phone to Platform who then have to re issue the Mortgage with the correct solicitor details on the pack. This has delayed my exchange and completion  date by at least two weeks, totally unnecessarily.  
My application went to offer on 7th October (After submitting the application on 24th July!) I got a digital copy on 13th October, and the paper copy in the post on 14th October. My Solicitor was away last week and was back 19th October, only to discover no Mortgage pack had been sent to her, but it had instead been sent to their head office. 

I would also recommend to anyone reading these forums to avoid Platform like the Plague, unless you have plenty of time on your hands, and plenty of patience. 

I understand the world is different right now and organisations are operating at limited capacity, but to still be waiting for the Mortgage to be sorted heading into the last week of October is a bit of a joke! My original ETA was 3-4 weeks! 

How long did it take them to change your solicitor's details and re issue the offer? We just changed solicitor and faxed platform the new solicitor's details, really would like to know how quickly they can make changes and send out offer.