Platform Mortgage

Bill113

Kayleighwhiteley said:

Bill113 said:

It's down to 5 days now according to the site but still no news for us

Have you had an offer through? 
So, we got told our case is approved subject to valuation.  We had the valuation on the 4/08. We was told on the 9/08 about our case and that our valuation has been sent to be assessed.  We are still waiting!!  Contacted broker on Monday was told they are looking at documents from 31/7. So, hoping they get to ours by end of this week. Our developer wanted to exchange Contracts 25/8 so it's cutting it very fine. Fed up of the waiting. 

No offer yet. We get told all the time that it is all sorted and in final stages and they are hoping it will be done by next week (or whatever date). The dates come and go with more promises. Our valuation was about 6 weeks ago and at that time it was all sorted etc. 

hupik

I applied for a remortgage with platform on 13 July 
27 July house was valued with confirmation on 3 August that they agreed valuation on house was what I thought.

I've had constant communication with broker just saying that the documents are being worked and I'll hear next week.

Last update stated

 "Platform have confirmed that they are currently still exceeding their current timescales and have advised that we now may not get a further update until around the end of next week. They couldn't give an exact date but have just said they are working to bring the timescales down and end of next week should be the worst case scenario."

I'm not holding my breath

paul2022

My experience with Platform.
Applyed on 7 Jully
25 July valuation
10 August they requested a damp and timber report.
14 August report arrived with a need of 2 small issues £1100 to repair.
22 August Platform response to report " Unfortunately we would not be able to offer until these works have been carried out".
This is not looking good.

 

mrsjos91

hupik said:

I applied for a remortgage with platform on 13 July 
27 July house was valued with confirmation on 3 August that they agreed valuation on house was what I thought.

I've had constant communication with broker just saying that the documents are being worked and I'll hear next week.

Last update stated

 "Platform have confirmed that they are currently still exceeding their current timescales and have advised that we now may not get a further update until around the end of next week. They couldn't give an exact date but have just said they are working to bring the timescales down and end of next week should be the worst case scenario."

I'm not holding my breath

This sounds so similar to ours. Our app was submitted on 8th July, valuation completed on 25th July, told on 26th July and again on 16th August that valuation was fine and is in its final stages. 

They recently asked for another payslip which they said will take 10-12 days to review!!! Shocking timescales. We are a new customer and really wish we’d gone with another lender 😩 

Our current deal comes to an end next week which means we will be on SVR which is really ideal in current climate 

khany989

Does anyone have any recent, updated experiences applying with Platform. 

What were the timescales? Are things still taking as long as they were before with them? 

I know they withdrew products for a few weeks however they resumed trading 06/07/23 so I assume any backlogs should be cleared. 

khany989

Just an update incase it helps anyone in the future.

I applied 06/07 
Valuation instructed same day.

07/07 - Requested Declaration to be signed and explain accrual of savings. Replies given immediately.

10/07 Vendor pulled out of the sale. (We were rejected by NW and she was worried we’d be rejected again) 

At this point I think my broker stopped checking for updates on our application - see below. 

14/07 I contacted my MA asking if Platform had asked for anything further. She replied immediately saying they want the declaration again with a wet signature, we signed it online the first time. Also asked for explanation of savings again. 

17/07 I asked my MA for an update. Platform queried certain payments and monies coming in on my bank statements. Nothing crazy was just sale of car/parts, PI claim etc. 

21/07 I asked my MA for an update. More questions regarding Bank statements. Queried a few incoming payments. There were small amounts of a few hundred. Explanation immediately given again. 

24/07 Offer accepted on another property. MA informed underwriter. 

31/07 Valuation complete. I called Lender and they confirmed just waiting on Valuation. 

02/08 Offer received via MA

All in all, was very very quick considering our MA did not check for updates until I asked (this was understandable considering we were hunting for another property).