Platform Mortgage

bluenose2

Has anyone made an application to Platform within the last few weeks? Would be good to understand timescales.

claireyfairy83

Joiningtocomment said:

claireyfairy83 said:

Joiningtocomment said:

TT89 said:

Joiningtocomment said:

TT89 said:

Porting customer here. Got a text today to say our offer has been approved & our offer documents are being generated. They said this typically takes 5-10 working days but as our case has been expedited they will try and do it within 48 hours. We previously complained about their ridiculous time scales for existing customers and explained our situation (heavily pregnant and out on the 29th), then they agreed expedite our case which has appeared to really get things moving so it was definitely worth complaining! Good luck. 

Has it come through? I’m really pleased it’s moving forward. I don’t understand Platform. We’ve had our application in since first week of October and we don’t have a mortgage offer. We have called and begged multiple times to get them to hurry up. They don’t ask for any more information it’s just that they’re so slow. It’s been 21 weeks since our offer was accepted and we are holding up the whole chain. It’s not fair we’ve all got personal circumstances, now it’s like they’re deciding which are more important vs other people. Another unethical move by platform. 

Hi. Yes. We have got our offer now and I feel like we have been very lucky. I do understand where you are coming from. It’s so incredibly frustrating. The only advice I can give is to officially complain as 21 weeks is absolutely ridiculous by any standard. My husband launched an official complaint as soon as we learnt of the discrepancy in timescales between new and old customers. We received a letter stating the usual waffle but it also referenced an actual person as a point of contact within the complaints. He contacted this person (took multiple attempts) and explained the situation and that is when they agreed to expedite it. I really sincerely hope that you get your offer very soon, it’s bloody awful and so incredibly stressful. Good luck

Thanks very much. We’ve made an official complaint and it’s been updated every step of the way. Other than eventually getting a mortgage offer (lol fingers crossed) what are the chances of any compensation? This process is so stressful I can’t actually believe they’re allowed to do this. They haven’t even asked us for extra information. They have zero excuse. 

I’ve just received my second letter from Platform today saying they’re still not able to review our complaint so I’ve reported them to the Financial Ombudsman, for all the good it’ll probably do. There’s a section on the web form where they ask what you’d like Platform to do and I said I think a refund of the early repayment charge would be acceptable. I’ll update if I get anywhere with either Platform or the ombudsman.

I will certainly do the same as I’m expecting us to get the same letter shortly. Probably another two weeks until they’ve had eight weeks to handle it. I would like a more formal apology and financial compensation for the stress and time I’ve had to spend on the phone to platform away from my day job alongside any fees we’ve paid back (especially if we’ve paid any sort of admin fee). Nightmare! 

We're just about at the 8 week mark now so we'll see what happens. I think you should get some sort of compensation too! I'd be absolutely fuming! Good luck with your complaint and onward purchase.

HC29

bluenose2 said:

Has anyone made an application to Platform within the last few weeks? Would be good to understand timescales.

Absolutely awful honestly- if your an existing customer expect them to tell you 12 weeks when in fact it’s 12+2 weeks. Absolute nightmare. 

HC29

nelbear1991 said:

Hi - wanted to share our experience with Platform as a new customer:  
AIP - 11/1 
Full application 12/1 
Gifted Deposit letter requested 21/1
Valuation & Homebuyers Survey booked for 22/1
Valuation verbally advised 26/1 (£10k less than offer)
Seller agreed lower price 27/1....mortgage offer emailed ten minutes later!  Says it will be in the post within 48 hours. 

We are both full time employed but my partner has around 30-40% of his wage made up of commission. 
Very very pleasantly surprised here as thought we were in for a long wait and the Spanish inquisition on our statements. No other queries at all in relation to statements or anything like that....I know we went through a lot with our broker as to what payments were what so I expect he sent some sort of annotated version to avoid the questions/delays

Now hoping everything else goes as smoothly! 

This is exactly it - new offers sailing through while for existing customers it’s a nightmare- I would to anyone applying to platform you will be an existing customer if you carry on with your application - be warned. 

bluenose2

Application went in on 26th, valuation done on the 29th which has found “horizontal cracking on the garage walls and floor”.

Platform have asked for a full structural report of the property before they continue. Has anyone had this before?

Lindyloo78

bluenose2 said:

Has anyone made an application to Platform within the last few weeks? Would be good to understand timescales.

I applied just before Christmas as a new customer through a broker. I had my mortgage offer through on Monday. With the Christmas break in between and I honestly don’t think everything got sent over which created a delay. Colleagues using different companies had theirs back a lot quicker. 

Manuel1992

New customer
Applied before Christmas and still yet to receive an offer. They take a week to respond to any email from our broker and provide no useful update. I am starting an application with another bank on the side as now have little faith left in platform. 

Chelseals123

Does anyone know where platform are working to date wise with advances/porting? Were 9th December and still haven't progressed 

ubayd95

Thought I would share my experience here: 

Application submitted - 2nd Feb 
Survey instructed - 4th Feb 
Survey carried out - 11th Feb 
Update - 15th Feb (yesterday) 
Survey happened, and platform won't lend as things stand due to current ground rent provisions. Seller has an agreement in principle to extend the leasehold by 90 years, which in-turn will value the ground rent as a "peppercorn".
I am hoping that this evidence/confirmation will be okay for Platform. Anyone had something similar when purchasing a leasehold flat?

bluenose2

ubayd95 said:

Thought I would share my experience here: 

Application submitted - 2nd Feb 
Survey instructed - 4th Feb 
Survey carried out - 11th Feb 
Update - 15th Feb (yesterday) 
Survey happened, and platform won't lend as things stand due to current ground rent provisions. Seller has an agreement in principle to extend the leasehold by 90 years, which in-turn will value the ground rent as a "peppercorn".
I am hoping that this evidence/confirmation will be okay for Platform. Anyone had something similar when purchasing a leasehold flat?

Not something completely relevant but platform conducted a survey on the home I’m buying and now require a structural engineers report in order to continue after seeing some cracks in the detached garage.

Hoping to have the report tomorrow as the checks were done today, will keep this thread updated with turnaround times.