Platform Mortgages withdraw 90%LTV

Ethelred45

Hello all 
First time poster...
We're in the middle of what seems like a mortgage application nightmare and would appreciate some insight / experience / thoughts from others who know this territory.

We're trying to get a 90%LTV mortgage - I know that's quite a big ask in these challenging times. We applied to Metro Bank but they suddenly withdrew their 90% product from the market, so even though we had applied, in the end our application wasn't considered. Undeterred, we applied to Platform for their 90%LTV product, and we had gathered all the documentation needed and were due to upload an application on Monday (via an advisor). They heard today that now Platform are withdrawing their 90% product as well from 5pm today so quickly submitted our application so we made it under the wire before the deadline.
But based on our previous experience, we're not feeling very confident that what we have applied for will still be available. Does anyone have any insight into how this works? The vendor is very jumpy as you can imagine. And our nerves our shot to pieces.

[Deleted User]

If your application is in then your product is secure.   Platform have withdrawn because they couldn't cope with business levels though so expect no news for about 2-3 weeks before they even have the first look at the case.  6 weeks for an offer at 90% will be good going 

madwife260

We also have the same thing. So was wondering this too. 
We put an offer in on house mid July. Went through bank of ireland twice for them to pull both products and our application stayed inactive. Broker put in application for platform today. We are so stressed out.

ACG

Platform are just ridiculous at the minute. Whoever thought it would be a good idea to launch a 90% product needs sacking. We have had an application in with them for a month now, they asked for some extra information and I think we are about 2 weeks in from them getting that and still no news. 

So what do they do? Launch a 90% product. 

Our customers literally have the pick of any lender, we went with platform as they were the cheapest and our customers had a mortgage with platform on a residential property up until 7 weeks ago so assumed it would fly through. An extra fiver a month and we could have had an offer issued by now. 

Hygieia

How far into your metrobank application were you? We've applied for metrobank as well for a 90% mortgage before they pulled the project, paid £300 for the banks survey which is next tuesday, so I'm hoping they don't suddenly take it away from us! Super stressful times indeed.

Ethelred45

Thanks for responses - very helpful.

And a relief.

Hygieia: We were ready to have our application with MB considered - all the papers were in....