Vendor EA want's contact details for my Mortgage....

hostman

Your solicitor will have the details, if the EA wants any further info they just need to ask him them.

But you don't have an offer, not until you receive written confirmation from them.

not_loaded

They’re merely looking for reassurance, not your PIN.

paroncider

not_loaded wrote: »

They’re merely looking for reassurance, not your PIN.

Thanks for stating the obvious, but an estate agent won't be able to call up the bank and get details on a particular mortgage application.

It's really up to the buyer whether they want to provide these details, but I agree that showing them the paperwork will help so they understand we're being cooperative and want the purchase to tick along smoothly. :A

the_hatter_2

not_loaded wrote: »

They’re merely looking for reassurance, not your PIN.

I'm sorry but this is the exactly the sort of attitude that leads to credit fraud! If I handed over enough details to an EA to query my application process with the bank there is nothing to stop that EA from running up a line of credit for their self in my name! Now before anybody says anything - yes I know I am sure we can trust most if not ALL EA's and I am sure this won't happen in my case BUT it is always a possibility and unfortunatly "Bad People(tm)" do exist in this world and for that reason alone I am cautious about handing out details especially to a phone call where I can't verify the person at the other end of the call.

Ironically just handing over my PIN is less likely to lead to a issue than the details required to query my application since my bank card is safely on my person... and I can change the PIN very easily if it does get into the wrong hands, unlike my name, address, DOB, mother maiden name....

chickmug

oldone wrote: »

The O.P does not have a broker, but have dealt direct with their bank.Are you saying you will only deal with purchasers who have arranged a mortgage through a broker.

If being carefull who they give their personal financial data to is being obstructive, then well done to them.

Think it through from the sellers point of view and sale being agreed where the finance is NOT checked thoroughly. Would you want your agent to do this for you? Where finance is not checked sales have a higher fall out rate.

No not suggesting that I would only have dealt with them if they had a broker but if they said direct through a bank (or building society) I would expect to get confirmation direct from that bank. It is something lenders are used to being asked by agents so no big deal.

chickmug

maninthestreet wrote: »

There is no mortgage broker involved.
No financial instiutuion is going to discuss someone else's financial details
with anybody that contacts them and starts asking questions about those details, including a mortgage application. So there is little point in asking for a contact at the bank, is there? The vendor and their agent can, quite rightly, expect the buyer to provide proof that they have some way of raising the funds for the purchase - an agreement in principle should suffice at this stage of the property purchase.

Sorry but AIP not good enough and as said in my last post that is what happens in the day to day world of agency life. We are not expecting to be told personal details but are expecting the lendor to give reassurance that the loan is doable NOT borderline and then we are happy for our client - the seller - who could be you now or one day?

chickmug

the_hatter wrote: »

I'm not trying to be obtrusive! I just have a natural fear of handing out details without a good reason, I worked for a computer security firm for several years and it's made me paranoid about ever giving out details that could be used for something naughty....

Anyway, I'm very happy to provide proof of the offer etc to the EA or Vendor if they need something to ease their concurns or allow them to proceed with their house purchase.

We found that 90% of folks gave it out no problems. The other 10% questioned why but once we explained to them the reasons the vast majority were happy.

There was the odd one that refused so we asked our vendor clients what do do and most said NO information so would not proceed with agreeing a sale. Some said tell them we will proceed but told us to find an alternative buyer who is less difficult.

A lot depends on how good the agent is at talking it through and some are so arrogant no wonder it puts folks backs up?

chickmug

hostman wrote: »

Your solicitor will have the details, if the EA wants any further info they just need to ask him them.

But you don't have an offer, not until you receive written confirmation from them.

Not at the early stage they will not. And agents know that getting stuff from a buyers solicitor without chasing and waiting for day after day just does not happen. This is how is really is I'm afraid.

chickmug

paroncider wrote: »

Thanks for stating the obvious, but an estate agent won't be able to call up the bank and get details on a particular mortgage application.

But yes they can and yes they do but some banks are more guarded than others. Always they will check with the buyer clients that it is OK for them to have this occassional check carried out.

the_hatter_2

chickmug wrote: »

We found that 90% of folks gave it out no problems. The other 10% questioned why but once we explained to them the reasons the vast majority were happy.

There's the first problem - the EA didn't explain himself well at all, when questioned the reason was "so we can chase stuff up". This raised a flag to me... anyway you've all explained in great detail exactly WHY they might need this now. As it happens I've just called the EA to tell them the surveyors will be in contact this week to arrange that and they are happy with this.

chickmug wrote: »

A lot depends on how good the agent is at talking it through and some are so arrogant no wonder it puts folks backs up?

In my very limited experience so far all EA's we've met have been some combination of arrogant/rubbish/unhelpful. I'm hoping when I do move into a property that I won't have to sell for a very long time...