Platform 10% Mortgage

Hannimal

I don't think there is a huge difference regardless of whether or not you get the survey through them and you can save A LOT of money by getting it through Platform. For the sake of a theoretical few more days, I'd go for the survey (and in fact I did). There is not any evidence it takes longer to get the valuation if you also get the survey, so if you get it through someone else you're just effectively paying more and being superstitious. 

Megandlg

I agree with you Hannimal. The homebuyers survey is literally half price by going through Platform, and my MA said that in her recent experience it’s had no effect in terms slowing down the process. It might be different in other areas where demand for surveys is higher currently, but not in this area. I think the potential benefits offered by the survey outweighs the cost and possible delays so have gone ahead and made the payment. 

NicTin01

My mortgage offer has now been in ‘final review’ with the underwriters since 31st July...! If I hear ‘we should get it tomorrow’ one last time I may cry. 

Sparklestar1127

After being told we would be reviewed yesterday and no word from the broker, today the postman dropped the offer on our doorstep, shortly followed by a text from our solicitors saying they had also received our offer. Phoned the broker who told me he hadn’t heard a thing at all. 

So relieved. Bit naughty to not even keep the broker in the loop though 😏

Tigger2018

If Platform start ti process your mortgage, then inform you that they need further info eg wageslips proof of savings etc. 1 Does it go to the bottom of the pile again and 2 If you sent your further info recorded delivery how long ( and I know it's a long shot expecting anyone to know), until they process it again? Cheers

nakiwala123

Update from us. Well not really an update on our case but general platform information.

They received our application on 7th Aug and instructed the survey to be completed on 1st Sept. We called this morning to check on progress. They confirmed that as of  Monday 17th Aug, underwriting were working on applications received 16th July.

May the wait continue.

sm77j

nakiwala123 said:

Update from us. Well not really an update on our case but general platform information.

They received our application on 7th Aug and instructed the survey to be completed on 1st Sept. We called this morning to check on progress. They confirmed that as of  Monday 17th Aug, underwriting were working on applications received 16th July.

May the wait continue.

Thanks for the update - and you did well to get a valuation that quickly so that's good! We put our application in 8th of July and it's been through underwriting but the earliest valuation we could get booked in was not until the 28th of August (valuation was booked 3 weeks ago). Don't know if it's just our area or what but it's been a huge wait! Hopefully just a couple more weeks to go though all going well!

Megandlg

Update from me: my application was submitted on 5th August. The MA checked today and it’s not been looked at yet. Platform are saying their current timescales are 15 days to review applications, which takes us to the middle of next week. 

We have chosen to upgrade to a homebuyers survey and paid the fee for that earlier this week but it’s not been instructed yet. 

CFoskett08

Okay so here is our timescale if it helps anyone.
Application submitted 22/07, Valuation booked on 28/07 (standard free one), Chased MA the week after valuation and she said the valuation was fine and they were doing there report, Platform requested for a recent bank statement from us both on 11/08, this then put us back at the bottom of the pile and when i contacted my MA she said it will take another 10 days, 21/08 end of 10 working days and going to underwriters, 25/08 still waiting but hopefully we should know by end of this week. 5 Weeks waiting so far in total tomorrow. 
It just takes sooo long and it's stressful thinking if we get declined, it could then take another 5 weeks with another provider and our seller may want to pull out as we have taken so long.  

Jadek

Hello, adding my details / timescales into the melting pot of info too in case it helps.
Our broker submitted our application (85% LTV, both full time employed, FTB) on 4th August, the following day the EA told me that the valuation (standard free one) had been booked in for the 18th August. I spoke to the broker today, exactly three weeks after submission. He spent nearly an hour on the phone (!) to chase the application and was told that they are so backlogged that they haven't even got to looking at applications submitted in August at all yet, and that it's likely to be mid to end of next week before our application is looked at. So I guess we wait. Considering we originally had the offer accepted a week before lockdown we are very used to waiting by now (the seller hadn't found a property and didn't find anything until end of July), but it is still frustrating nonetheless!