Platform Mortgage

nakiwala123

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.

Phew for you. Getting in there before the deadline. 

Thank you for the link.  Looking at the document, it seems Platform alluded that information to us but maybe because we are porting and were already customers. They took our combined salary at 4.49 even if we met the criteria for 4.85 for 60% LTV. I can only assume that it is due to covid19 that they have tightened the criteria. 

We received our survey back yesterday so Platform would have had the valuation for a week today. I have not seen any hard searches on my credit report so I'm assuming we have not been vetted yet. Platform received our application on 6th August.

Megandlg

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! 

Our survey was done yesterday, and MA says we should receive an offer next week, if not before. 🙂

Megandlg

@nakiwala123 how did you get your homebuyer survey report? 

It might sound like a daft question, but I was told yesterday that my survey was done yesterday. I’d not had any contact from the surveyor in advance, unlike with a previous house, when the surveyor asked if there was anything I particularly wanted him to look at or comment on. 

MA didn’t seem quite sure whether the surveyor would send me the report directly, or whether Platform would forward it on to me after the survey and valuation were sent to them. She doesn’t seem to have any information about the contracted surveyor- Platform’s communication seems rather lacking in both quantity and quality. 

nakiwala123

Megandlg said:

@nakiwala123 how did you get your homebuyer survey report? 

It might sound like a daft question, but I was told yesterday that my survey was done yesterday. I’d not had any contact from the surveyor in advance, unlike with a previous house, when the surveyor asked if there was anything I particularly wanted him to look at or comment on. 

MA didn’t seem quite sure whether the surveyor would send me the report directly, or whether Platform would forward it on to me after the survey and valuation were sent to them. She doesn’t seem to have any information about the contracted surveyor- Platform’s communication seems rather lacking in both quantity and quality. 

We didn't have any contact from the surveyor either. It transpired that if we needed anything in particular for the surveyor to check out, we should have mentioned it in the email. However, Surveyor called us afterwards and gave a brief chat about what he found. We had a building survey and that it would take up to 6 working days. We received the report via email on day 5. The bank would have received the valuation within 24 hours of the survey.

JamieInk123

Been following this thread as we made an application for a mortgage with Platform last month (12th August), and it's been really useful to get an idea of timescales. Our MA told us just now that he had spoken to Platform this morning to get an update and they stated they were now looking at applications made on the 11th August. That seems to fit in with their timeline of ~20 working days from application to offer, though it may be closer to 26 working days if applying now. Keeping fingers crossed for everyone on here!

nakiwala123

JamieInk123 said:

Been following this thread as we made an application for a mortgage with Platform last month (12th August), and it's been really useful to get an idea of timescales. Our MA told us just now that he had spoken to Platform this morning to get an update and they stated they were now looking at applications made on the 11th August. That seems to fit in with their timeline of ~20 working days from application to offer, though it may be closer to 26 working days if applying now. Keeping fingers crossed for everyone on here!

Platform received our application on 6th or 7th August. They called me yesterday morning and confirmed that our application had been vetted and that it has now been passed on to the Underwriters. It would take up to 5 days for a response from the Underwriters. Every week we called for an update and they mentioned it was not vetted yet, I assumed vetting was the same as underwriting so you can imagine my disappointment when they mentioned that there was another step. We are so close now though. 

JamieInk123

nakiwala123 said:

JamieInk123 said:

Been following this thread as we made an application for a mortgage with Platform last month (12th August), and it's been really useful to get an idea of timescales. Our MA told us just now that he had spoken to Platform this morning to get an update and they stated they were now looking at applications made on the 11th August. That seems to fit in with their timeline of ~20 working days from application to offer, though it may be closer to 26 working days if applying now. Keeping fingers crossed for everyone on here!

Platform received our application on 6th or 7th August. They called me yesterday morning and confirmed that our application had been vetted and that it has now been passed on to the Underwriters. It would take up to 5 days for a response from the Underwriters. Every week we called for an update and they mentioned it was not vetted yet, I assumed vetting was the same as underwriting so you can imagine my disappointment when they mentioned that there was another step. We are so close now though. 

How irritating! It's been a frustrating process, especially with a tight deadline for exchange (looking at end of month), but looks like we are both approaching the final hurdle now. Hopefully by the end of next week we will both be sitting here with an offer in hand.

[Deleted User]

I put in an application end of July. First time buyer with I think a 60% LTV, been chasing my MA for updates virtually every couple of days now. They've apparently done a drive by valuation/survey, and according to Platform "everything looks OK" .... each response between Platform and my MA takes a day, so I'm really hoping I'm at the final hurdle now. 
E-mailed MA again today asking how close their are to giving me a decision. 

It's an extremely slow process, this! 

JamieInk123

Wow that is slow, you must be pulling your hair out! Have you had any issues with the application since you first sent it off (e.g. missing documents) that you have been made aware of?

ES1989

Similar to a few others, I have also been following this thread as we have recently applied for a mortgage with Platform (4th August). Broker doesn’t really give much away and there is very little information available for Platform. We have passed the hard check DIP and affordability  and fortunately we have both continued to work and not been furloughed also but not sure if that’s something to be confident about. I haven’t read on here anyone being rejected. Someone earlier in the thread kindly provided the lending requirement which are meant for intermediaries only, and we seem to tick  the boxes but you just never know until that mortgage offer is in your hands.  This is such a nerve racking time it’s nice to be able to discuss with people in a similar boat.