Platform

TechM89

Hi all, my parents have sold their flat and in the process of buying a house. 

They are only needing a 60k mortgage. My dad is retired but does contracting work so there was slim pickings on which mortgage company would take them on. 

The broker has applied to Platform who have given them a DIP but have been very very slow since processing the full application. They will ask for more information, then take another 3-5 days to process that bit and then ask for more. 

Has anyone experienced this before? Also, any other mortgage companies that take on retired persons?

Thank you

K_S

@techm89 Not unusual with Platform I'm afraid. Their packaging requirements are very unclear unless you know what they need, their underwriters can be quite nit-picky, their systems are archaic and service levels are unpredictable. 3-5 days to turnaround queries is actually not too bad, they can often take 1 week+ when their rates are competitive and they get flooded with apps.

Having said that all, if you're already halfway through and the broker has done their research properly before recommending Platform, it should go to offer sooner rather than later.

Good luck!

TechM89 said:

Hi all, my parents have sold their flat and in the process of buying a house. 

They are only needing a 60k mortgage. My dad is retired but does contracting work so there was slim pickings on which mortgage company would take them on. 

The broker has applied to Platform who have given them a DIP but have been very very slow since processing the full application. They will ask for more information, then take another 3-5 days to process that bit and then ask for more. 

Has anyone experienced this before? Also, any other mortgage companies that take on retired persons?

Thank you