Platform to give 48 hours notice before withdrawing products

8 March 2010 | By Natalie Thomas

Platform, the intermediary lender of The Co-operative Bank, has already adhered to six commitments based on research of what intermediaries want to see in the mortgage industry.

It launched a competition to find its seventh pledge at November’s Mortgage Expo where it asked intermediaries what they would like to see Platform implement further in its business practices in 2010. 



The intermediary mortgage specialist’s pledges range from a promise not to cross sell to a commitment it will inform customers as applications reach key stages in the application completion process. 



Justin Moy, managing director of Easyswitch Mortgages which is based in Chelmsford, Essex, came up with the winning idea and with Platform has created the businesses seventh pledge: “We will give you at least two working days notice of product withdrawals and changes along with a clear explanation of our reasons, as part of our commitment to transparency and fairness.” 



Lee Gladwell, director of business development at Platform, says: “Intermediaries for a long time felt that they were not listened to by the mortgage market and when Platform entered the mainstream mortgage market 18 months ago we felt that this was an issue which needed and still needs to be addressed. 



“By fully engaging with our customers over the past year we have developed our service practises to fully complement intermediaries expectations and needs. The implementation of our seventh pledge fully supports our aims to be the intermediary lender of choice and I would like to thank everyone who got involved in the competition for their support.”