Platform 10% Mortgage

sm77j

Our valuation has been booked but not until end of August 😩 we upgraded to home buyers report.
 Think our vendors are getting frustrated at the wait (our application went in 8th July) - but our solicitors are raising queries and performing searches (we paid them at the same time our mortgage application went in) so not much we can do apart from patiently wait!

JM2194

We are currently waiting for our offer, we took a mortgage holiday but have now paid 2 payments since that finished so hopefully things go smoothly! We have been waiting around 3 weeks now, our valuation went through last week fine. 

Good luck to you all too!

nakiwala123

sm77j said:

Our valuation has been booked but not until end of August 😩 we upgraded to home buyers report.
 Think our vendors are getting frustrated at the wait (our application went in 8th July) - but our solicitors are raising queries and performing searches (we paid them at the same time our mortgage application went in) so not much we can do apart from patiently wait!

Despite the long wait for the survey till end of August, the fact that you have got to this point shows that at least you have got through the underwriting and that offer is pending if survey comes back ok? 

otauna

We applied 8th July, on the 23rd July they asked some questions about activity on our bank statements (we were moving deposit funds to one place, nothing dodgy).

Valuation was carried out last week so fingers crossed we get the offer soon. Husband is now mildly concerned as he’s read today that platform have pulled some 90% products. Hoping because we’re so far in to the process we will be ok. I guess they’re swamped like all other lenders.

nakiwala123

nakiwala123 said:

We are porting and borrowing more with Platform. We had the telephone 2.5 hour application on 23rd July. 
Application pack then arrived a week later on 31st July. We sent this off on 4th August. 
We paid extra for the RICS Building Survey. I will be calling later on today to see whether they have received the pack and then it is on to waiting.

Update from us.
We sent the application pack on 4th August last week Tuesday. I called then on Friday and they confirmed that they had received it. The surveyor has called the EA today to complete the building survey on 1st September. EA wasn't happy about this and asked them to book it in to be completed sooner. They are waiting for a response on this. Like sm77j our vendors wanted a quick sale so this will not be good news for them. We are getting all the other bits done and completed as soon as possible so that once mortgage offer comes in we can get on with exchange immediately afterwards. I think I will only relax when the whole mortgage thing is sorted. 

sm77j

nakiwala123 said:

sm77j said:

Our valuation has been booked but not until end of August 😩 we upgraded to home buyers report.
 Think our vendors are getting frustrated at the wait (our application went in 8th July) - but our solicitors are raising queries and performing searches (we paid them at the same time our mortgage application went in) so not much we can do apart from patiently wait!

Despite the long wait for the survey till end of August, the fact that you have got to this point shows that at least you have got through the underwriting and that offer is pending if survey comes back ok? 

Yes our mortgage broker is pretty confident that there'll be no issues with underwriting so the valuation is my biggest concern at the moment. I don't think they've reviewed our most recent documents yet but they are due to be looked at this week (updated proof of deposit). So nothing for it now except the waiting game! We are in no rush but the vendors are naturally getting frustrated according to my mortgage broker (she's the one who spoke to their EAs). 

nakiwala123 said:

nakiwala123 said:

We are porting and borrowing more with Platform. We had the telephone 2.5 hour application on 23rd July. 
Application pack then arrived a week later on 31st July. We sent this off on 4th August. 
We paid extra for the RICS Building Survey. I will be calling later on today to see whether they have received the pack and then it is on to waiting.

Update from us.
We sent the application pack on 4th August last week Tuesday. I called then on Friday and they confirmed that they had received it. The surveyor has called the EA today to complete the building survey on 1st September. EA wasn't happy about this and asked them to book it in to be completed sooner. They are waiting for a response on this. Like sm77j our vendors wanted a quick sale so this will not be good news for them. We are getting all the other bits done and completed as soon as possible so that once mortgage offer comes in we can get on with exchange immediately afterwards. I think I will only relax when the whole mortgage thing is sorted. 

Similar to us - they asked us to push but my mortgage broker said there's not much they can do if the surveyors in the area are booked up until then. The only reassuring thing is surely the vendors won't want to pull out and start from scratch as presumably another buyer would have the same problems if getting a mortgage.  

NicTin01

Reading this thread has made me feel so much better that I’m not alone as I’m getting so paranoid but it definitely seems we are all getting the same message i.e. they’ve got a huge backlog at Platform. Our timeline:
13th July - Application submitted
22nd July - Platform ask for some further documentation 
28th July - Valuation happens with no issues
6th Aug - Chase my MA for the second time as I hadn’t heard anything and he got us ‘prioritised’ (after having to wait 45 mins for them to answer) but we were told there is a huge backlog
7th Aug - Platform ask for clarification on two points on ‘lump sums in our accounts’ which MA provided detail on but then he advised we’ve probably gone back to the bottom of the list and might be looked at again in 10 days time. 

I’m really hoping that they’ve removed some of their products so that they can get through the backlog, it’s the worst thing ever having to wait especially as you assume the worst! Knowing we are all experiencing the same has made me calm down a bit and I’ve copied this thread to the guy we are buying from so he knows we are not dragging our feet and that everyone seems to be having the same issue!

BristolPole

Have been following this thread for the last couple of weeks as we've been going through the application process with Platform. We have just had our mortgage offer issued so thought I'd share our timeline for others to use as a reference.

13/07 - AIP 
14/07 - Application submitted 
21/07 - Valuation instructed and copies of HTB Authority to Proceed and declaration form requested
03/08 - Valuation booked in for 07/08
07/08 - Valuation took place
11/08 - Mortgage offer issued

So that's 4 weeks exactly from start to finish which seems to be in line with others experiences. Another note to add is that we didn't pay for a Home Buyers report, this is the timeline with just a standard valuation.

NicTin01

@BristolPole congrats on your offer and thank you for sharing. Our application date was one day before yours so it’s given me some hope that ours will happen this week. I spoke to my mortgage advisor this morning and he’s had others applied that week be offered today so looks like 4 weeks is pretty standard!

Tigger2018

I know someone who applied ( via a broker I think ) and the valuation/ survey was booked within 3 days! This was in late July but there is no sign of an offer yet.......