Platform Mortgage

unicorn1991

Great news! your solicitor should get fax very quickly. 

Very luckily we managed to change solicitor on Thursday and faxed the lender a notice of change of solicitor on the same day, and we phoned platform Friday morning to make sure our case worker has got the doc, and 10 mins later our new solicitor phoned to say the offer had been faxed to her! They were really quick for a change. 

dejl123

Hi,
Had an AIP with Santander (our current lender) who after receiving our full application, then decided to offer us £20,000 less. Annoying, but not completely unexpected, as they’ve done this to us previously. 

Anyway, our MA suggested we try Platform and we agreed, as we’re the ones holding everything up and it’s probably our last hope of moving - not really our fault, as the house we’re buying was SSTC previously and fell through at the last moment, so their conveyancing is all done and our buyers are FTB, who have stated that they would like to be in our house before Christmas. However, after reading all the recent posts here regarding Platform, it seems Christmas 2021 might be more realistic for them! 

If it really takes 6-8 weeks to get a mortgage with Platform that seems ridiculous and I’m regretting my decision a bit now. When the MA suggested Platform, I asked her how long they were taking and she said about 3 weeks! 

ozmosis79

dejl123 said:

Hi,
Had an AIP with Santander (our current lender) who after receiving our full application, then decided to offer us £20,000 less. Annoying, but not completely unexpected, as they’ve done this to us previously. 

Anyway, our MA suggested we try Platform and we agreed, as we’re the ones holding everything up and it’s probably our last hope of moving - not really our fault, as the house we’re buying was SSTC previously and fell through at the last moment, so their conveyancing is all done and our buyers are FTB, who have stated that they would like to be in our house before Christmas. However, after reading all the recent posts here regarding Platform, it seems Christmas 2021 might be more realistic for them! 

If it really takes 6-8 weeks to get a mortgage with Platform that seems ridiculous and I’m regretting my decision a bit now. When the MA suggested Platform, I asked her how long they were taking and she said about 3 weeks! 

About 3 weeks to first look at your application. It will realistically take another 6 weeks on top of that to get anywhere near an offer! Sorry to be the bearer of bad news!! 

Sleepflower

Heard from the vendors solicitor were are hoping to buy from - if we don't get a mortgage offer this week they are going to pull out - also our buyers solicitor is piling on the pressure, if we don't exchange imminently the buyer is going to pull out too! 
11 Sept - MA put application in
7th Oct (Working Day 18) - valuation done 
16th Oct (Working Day 25) - Platform picked up file. Requested additional information which I only found out due to me phoning them, again! Informed MA
19th Oct (Working Day 26) - Additional information submitted by MA requesting escalation through their Business Development Manager who said it would be 6 workings days for next assessment but he had advised urgency and it may be picked up before
22nd Oct (working day 29) - Phoned Platform to get update, told it will be assessed on the 26th Oct. Called MA who emailed Business Development Manager who then put in a further 'urgent' escalation 
26th Oct (working day 30) - Phoned Platform. Told the escalation date was 22nd Oct so would be looked at again in a further 6 working days - that would be Friday the 30th Oct, 34 working days. Explained that wasn't  the case, it was escalated on the 19th Oct. I explained the situation we are in, that we potentially could be homeless hence the urgency (as I broke down into tears at this point) She emailed the Team Manager as we spoke requesting an urgent task to be carried out and said hopefully they will pick up the file again tomorrow. I asked her that we have submitted what was additionally requested and is there a possibility that they may request further information - she said that they could ask for additional information which would add on another 6 working days, and/or it could be passed to a senior underwriter (which they seem to be doing especially for Self Employed/Directors) but hopefully not.  If and when it goes to 'Offer' an Offer Application Check will be carried out - all this adds on so much time which we don't have!
Advised to get MA to call tomorrow for any updates. Not only will I be pushing our MA but I'll be calling them, everyday.

I can't understand why our MA put us with Platform, we made it clear that we weren't after the best rate but a lender who we fit their lending criteria. I can't believe that our MA is still pushing people over to Platform.
It's absolute rubbish them telling me that all lenders are the same at the moment. They aren't -  friends and people I've heard of have received their offers from application in 28 days and less. I'm beginning to think Platform are just buying time - limiting the amount of offers / release funds for their monthly/quarterly figures.
Good luck everyone x

Sleepflower

Lulubelle_1 said:

I'm beginning to wish we had gone with Natwest. We're not in a major rush as we're not in a chain but we were initially told we're hear a month after application which is this week. Upon chasing, we've now been told it'll be next week. i don't even know if I can believe this to be true. If next week they come back with queries, will we then be pushed back to the bottom of the queue or can we insist that they address the responses within 6 working days? 

We wish we had too. Our MA put our application in with Platform then told us - up to that point we had no idea it would be with Platform. We are in a major rush, it's extremely urgent now as the sellers are going to pull out if we haven't received a mortgage offer this week and also our buyer solicitor has said the same. 
When submitting the further information requested by Platform instruct that your MA to request as an escalation. They will have a Business Development Manager who can also do this to the Regional Manager. If time keeps running away and is getting to an urgent situation, call Platform and lay it on the urgency - they may well email the Team Manager to request an urgent review - that's what the advisor I spoke to this morning has done. Call Platform regularly if you can, keep the pressure on them.
Platform are the worst out there without any doubt..
Good luck! 

Lulubelle_1

Sleepflower said:

Lulubelle_1 said:

I'm beginning to wish we had gone with Natwest. We're not in a major rush as we're not in a chain but we were initially told we're hear a month after application which is this week. Upon chasing, we've now been told it'll be next week. i don't even know if I can believe this to be true. If next week they come back with queries, will we then be pushed back to the bottom of the queue or can we insist that they address the responses within 6 working days? 

We wish we had too. Our MA put our application in with Platform then told us - up to that point we had no idea it would be with Platform. We are in a major rush, it's extremely urgent now as the sellers are going to pull out if we haven't received a mortgage offer this week and also our buyer solicitor has said the same. 
When submitting the further information requested by Platform instruct that your MA to request as an escalation. They will have a Business Development Manager who can also do this to the Regional Manager. If time keeps running away and is getting to an urgent situation, call Platform and lay it on the urgency - they may well email the Team Manager to request an urgent review - that's what the advisor I spoke to this morning has done. Call Platform regularly if you can, keep the pressure on them.
Platform are the worst out there without any doubt..
Good luck! 

So sorry to hear this, we are lucky that we are not under such extreme time pressures but it is frustrating trying to plan ahead when we are in limbo. Can i ask what additional info they asked of you? We supplied and explained everything we could think of when putting in the application to try and mitigate against additional questions, but i fear they may request something anyway. Good luck to you 

JJ87_

Our application was put in on 10th Sept.
valuation was completed on 16th Sept
15th Oct additional information requested. 16th additional info submitted.
not heard anything since.

does anyone have any idea what happens next. At what stage do they check employment etc?
do they do any final checks before completion but after the offer?

JJ87_

JJ87_ said:

Our application was put in on 10th Sept.
valuation was completed on 16th Sept
15th Oct additional information requested. 16th additional info submitted.
not heard anything since.

does anyone have any idea what happens next. At what stage do they check employment etc?
do they do any final checks before completion but after the offer?

Also I wanted to ask, we paid the £999 product fee. If for any reason we don’t get an offer is this refunded?
we also paid the £270 survey and had our survey and valuation done in 6 days. Again if we do not get an offer is this refunded?(I’m asking this because shouldn’t they check to see if they can offer first prior to us paying for a survey)

Sleepflower

JJ87_ said:

JJ87_ said:

Our application was put in on 10th Sept.
valuation was completed on 16th Sept
15th Oct additional information requested. 16th additional info submitted.
not heard anything since.

does anyone have any idea what happens next. At what stage do they check employment etc?
do they do any final checks before completion but after the offer?

Also I wanted to ask, we paid the £999 product fee. If for any reason we don’t get an offer is this refunded?
we also paid the £270 survey and had our survey and valuation done in 6 days. Again if we do not get an offer is this refunded?(I’m asking this because shouldn’t they check to see if they can offer first prior to us paying for a survey)

We were wanting to pay the product fee upfront too but advised by our MA not to because if for any reason we did not get an offer it's non refundable. But don't take my word for it, check it out maybe with your solicitor. Our survey was carried out on day 18, that's working days as Platform work to that timescale. They received the survey the same day. Initially we were advised by our MA and Platform that the survey would be booked in when Platform had assessed the case and were happy with everything else - they said this is so you don't lose your survey fee if the application for some reason is not accepted. The offer would then be subject to survey/valuation. We chose to get the survey done first as we're up against time with our chain, and still are. The time they're taking is ridiculous - we're on day 31 now, that's after escalating our case as they requested additional documents/information on first assessment.  
Let us know how you get on - it may well help others. Good luck x

Sleepflower

JJ87_ said:

Our application was put in on 10th Sept.
valuation was completed on 16th Sept
15th Oct additional information requested. 16th additional info submitted.
not heard anything since.

does anyone have any idea what happens next. At what stage do they check employment etc?
do they do any final checks before completion but after the offer?

Are you using the services of a MA? When submitting the requested additional information, we instructed our MA to get it escalated so it didn't (hopefully) go back into the new application timescale. From receiving the additional information, if requested an escalation as I understand Platform have said 6 working days to assess again. But we are now beyond that quoted timescale! I mentioned on my post today, keep pushing and telephoning them and your MA - spoke to an advisor at Platform today who has emailed the Team Manager advising that our case is very urgent. Hoping they will pick it up again tomorrow. 
Regarding further checks I'm not sure re employment as we're self employed/directors. They do final checks to ensure nothing has changed - Offer Application Check to make sure what was put on the application tallies with the documents and information they have - a credit file check after offer, just before completion to ensure nothing has changed before releasing the funds.