Platform Mortgage

Jadek

I have had a call from my broker this afternoon to say that our offer has been issued! He only happened to see it as he logged onto the portal for something else though, they didn’t contact him directly. My solicitor apparently received a copy via fax (?!). Broker has forwarded the copy to us but I imagine we should get our copy in the post in the next couple of days as it is dated today. This seems to correlate with what I read elsewhere that Platform seems to email (or fax!) solicitor, send the pack in the post to the applicant but not actually notify the broker.

For reference, our timeline has been:
04/08 - AIP and full application submitted through broker
06/08 - valuation booked for 18th 
18/08 - physical valuation done, although heard nothing about it (according to the pack it came back exactly the same as our purchase price...)
02/09 - mortgage offer issued 

Just spoken to the EA who is going to get an update from the vendor, but thinks they were only filling in the mortgage app for their new property a week or 2 ago...not sure why it took so long but sounds like we might have a fair amount more waiting to do before we can talk dates then! 

Anyway, at least we have our offer now, I hope everyone else waiting hears soon! 
 

sm77j

Jadek said:

I have had a call from my broker this afternoon to say that our offer has been issued! He only happened to see it as he logged onto the portal for something else though, they didn’t contact him directly. My solicitor apparently received a copy via fax (?!). Broker has forwarded the copy to us but I imagine we should get our copy in the post in the next couple of days as it is dated today. This seems to correlate with what I read elsewhere that Platform seems to email (or fax!) solicitor, send the pack in the post to the applicant but not actually notify the broker.

For reference, our timeline has been:
04/08 - AIP and full application submitted through broker
06/08 - valuation booked for 18th 
18/08 - physical valuation done, although heard nothing about it (according to the pack it came back exactly the same as our purchase price...)
02/09 - mortgage offer issued 

Just spoken to the EA who is going to get an update from the vendor, but thinks they were only filling in the mortgage app for their new property a week or 2 ago...not sure why it took so long but sounds like we might have a fair amount more waiting to do before we can talk dates then! 

Anyway, at least we have our offer now, I hope everyone else waiting hears soon! 
 

Congratulations! We had our valuation Friday which came back at purchase price. It was approved pending valuation up to then so just waiting for offer now 🤞

nakiwala123

We are porting and borrowing extra.
AIP - 23rd July
Full application with documents requested sent and confirmed received by Platform - 6th August
Survey (we upgraded to Building Survey) instructed - 27th August
Survey completed - 1st September

We called Platform earlier today because we know they would have received the valuation. They couldn't confirm as to whether or not they had received it. They have still not got to our application yet. They again reminded me that it is taking 6-8wks to offer. It will be 6 weeks on 17th September.

The wait continues

Jadek

sm77j said:

Jadek said:

I have had a call from my broker this afternoon to say that our offer has been issued! He only happened to see it as he logged onto the portal for something else though, they didn’t contact him directly. My solicitor apparently received a copy via fax (?!). Broker has forwarded the copy to us but I imagine we should get our copy in the post in the next couple of days as it is dated today. This seems to correlate with what I read elsewhere that Platform seems to email (or fax!) solicitor, send the pack in the post to the applicant but not actually notify the broker.

For reference, our timeline has been:
04/08 - AIP and full application submitted through broker
06/08 - valuation booked for 18th 
18/08 - physical valuation done, although heard nothing about it (according to the pack it came back exactly the same as our purchase price...)
02/09 - mortgage offer issued 

Just spoken to the EA who is going to get an update from the vendor, but thinks they were only filling in the mortgage app for their new property a week or 2 ago...not sure why it took so long but sounds like we might have a fair amount more waiting to do before we can talk dates then! 

Anyway, at least we have our offer now, I hope everyone else waiting hears soon! 
 

Congratulations! We had our valuation Friday which came back at purchase price. It was approved pending valuation up to then so just waiting for offer now 🤞

Thank you! Fingers crossed yours is also imminent 

Megandlg

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! 

nakiwala123

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! 

Ah ok so they received yours and actually waited till they got through the underwriting before instructing the survey? We had a slightly different approach. They received our application on 6th Aug and instructed survey on 7th Aug. They told us yesterday that they have not got to our application yet. I have a feeling the applications are vetted in a certain order but not particularly the order in which they received them. I think.

Megandlg

nakiwala123 said:

Ah ok so they received yours and actually waited till they got through the underwriting before instructing the survey? We had a slightly different approach. They received our application on 6th Aug and instructed survey on 7th Aug. They told us yesterday that they have not got to our application yet. I have a feeling the applications are vetted in a certain order but not particularly the order in which they received them. I think.

I wonder if it’s different for you because you are an existing customer? 

I am a new FTB going for a 90% LTV, and paid for a Homebuyers Survey, in addition to the free valuation. My MA said they tend to go to underwriting first in this situation, so you don’t end up wasting money. I don’t know if this means they would do the valuation first otherwise. 

I suspect they have several streams of applications being dealt with concurrently- different products, LTV etc, but they seem to share very little information with anyone, not even the MAs. 

Joey1998

Has anyone had any success of actually completing with Platform. 
My solicitor sent the COT and request for funds a week and a half ago with radio silence since. They were expecting confirmation of funds release. They can't get hold of platform to confirm funds release and I'm getring a bit nervy as meant to complete this week!

joeksemail

I managed to get in with Platform on a 90% LTV on Friday (04/09) before they pulled all residential lending.
I got an AIP and full application in the same day. Thus far my MA has said they have been very responsive to him.
Last of the required documents went in today and they are say 2 days for the first underwrite which I am very skeptical of after reading this thread.
On a side note, anyone who is interested - I found this link on their public website that is intended for MAs and has their underwriting criteria on it:
https://www.platform.co.uk/contentAsset/raw-data/df46c858-ce8b-4dee-8248-8fb8c81dfcef/fileAsset?language_id=1

They really should secure these documents in a portal but the joys of working in IT meant I found it publicly accessible.

improving47

joeksemail said:

I managed to get in with Platform on a 90% LTV on Friday (04/09) before they pulled all residential lending.
I got an AIP and full application in the same day. Thus far my MA has said they have been very responsive to him.
Last of the required documents went in today and they are say 2 days for the first underwrite which I am very skeptical of after reading this thread.
On a side note, anyone who is interested - I found this link on their public website that is intended for MAs and has their underwriting criteria on it:
https://www.platform.co.uk/contentAsset/raw-data/df46c858-ce8b-4dee-8248-8fb8c81dfcef/fileAsset?language_id=1

They really should secure these documents in a portal but the joys of working in IT meant I found it publicly accessible.

Fab thank you for this! Our mortgage application is being submitted tomorrow (hopefully) my broker has been dragging things - every question or amendment takes a day to reply to and we've had offers pulled whilst we wait to fit into their schedule and it's driving me nuts! Will definitely not be using them for our remortgage fingers crossed!