Buying a repossessed property - advice

Rebchappers

A bit of help please...We did our mortgage online with Nationwide, got a decision in Principle. Then put in our offer for the house which was accepted. The same day that our offer was accepted, we did the full application online. Our estate agents rang and said that we needed to go in and see the adviser to make sure we had budgeted properly. I said no, we have already sorted our mortgage and that was that. The next day, we received a letter from the estate agents saying 'your mortgage appointment has been booked with our adviser'

I recalled them and said No... we have already sorted our mortgage. They then asked who we had seen for financial advise with regards to the mortgage.... do i have to tell them this? Bearing in mind that i am a qualified financial adviser myself and checked online for the best deal and chose the product i wanted... (i am no longer in finance though, but know enough to make up my own mind about who i want to take the mortgage with)

The house we are buying is a repossessed house, and the EA said that the vendor wanted to know who we had seen for advice.... why on earth would they care? As far as im aware, i DO NOT have to take advice from anybody, i can chose who to go to for a mortgage and the EA can butt out. As i havent been in finance for over 12 months, i just wanted to check that this is correct.... i havent dealt with a repossessed property before and wondered if anything is different, like do i have to divulge this sort of information?(apart from i know that the offer has to be put in the local press and any higher bids are invited!)

Gangstabird

Sounds like the EA is desparate for his broker to arrange your mortgage. When I was in this game, we used to get £50 every time our broker arranged a mortgage. It's all backhanders:rolleyes:

I would tell them that you have a mortgage agreed with the Nationwide and that's that. If they keep hassling you, back off, as it's weird. The property owner should be grateful you want to buy it in this market.