Buying a repossesion Question

whiskywhisky

I have exactly the same issue only yesterday. Put offer in at 13:30 and around 15:00 was told that I need to visit them for prove of funds etc, which is meeting the financial adviser.

I met the financial adviser who talked through my circumstances and mentioned what mortgage products he can provide, after a discussion we agreed that what financial arrangements I already have in place will be right.

This meeting with the financial advisor I know must be an inconvenience, but it is free therefore why not just go there and you never know you might pick up some ideas.

GSXRCarlos

they will be looking to check the affordability.

Teh last thing anyone wants is a repossessed property re-appearing on the market 6 months later, in the same or worse state

Clarkey_24

Thanks everyone for the reply.

Now I know exactly what its for Ive decided to go for it and have booked an appointment for friday.

Lisa x

GSXRCarlos

Lisa,

I completed on my repossessed property 3 weeks ago, if you have any questions do not hesitate to ask, or pm

Carl

Clarkey_24

GSXRCarlos wrote: »

Lisa,

I completed on my repossessed property 3 weeks ago, if you have any questions do not hesitate to ask, or pm

Carl

Thats brilliant, thanks for your help

Lisa

Muhasib

my experience last month is that I went in to see the agent (national chain), showed them an AIP and my passport, viewed a property twice and the week after phoned and put an offer in. I was then told that the company policy was that offers were not communicated to the vendor until I had been to an interview with the branch financial adviser to establish whether my offer was credible. I knew about the NAEA code on passing on offers but didn't raise this. My AIP was from a UK bank ( not some unknown broker) so it was obviously a sales pitch but I went along with it as I was keen on the property, I got the hard sell treatment and they wanted me to sign a mortgage application on the spot which was easy to turn down diplomatically as the rate and fees were both higher; I do wonder how many are persuaded to go along with the estate agent as they think it will swing the deal.

chickmug

muhasib wrote: »

my experience last month is that I went in to see the agent (national chain), showed them an AIP and my passport, viewed a property twice and the week after phoned and put an offer in. I was then told that the company policy was that offers were not communicated to the vendor until I had been to an interview with the branch financial adviser to establish whether my offer was credible. I knew about the NAEA code on passing on offers but didn't raise this. My AIP was from a UK bank ( not some unknown broker) so it was obviously a sales pitch but I went along with it as I was keen on the property, I got the hard sell treatment and they wanted me to sign a mortgage application on the spot which was easy to turn down diplomatically as the rate and fees were both higher; I do wonder how many are persuaded to go along with the estate agent as they think it will swing the deal.

See my post above which I have posted EVERY time posters raise the issue. SO WHY DIDN'T, OR DON'T, YOU COMPLAIN ABOUT THE EA? If no one complains they will keep getting away with it so??????????

Muhasib

I didn't complain because I got quiet enjoyment from seeing their inane hamfisted efforts at selling me financial services

chickmug

muhasib wrote: »

I didn't complain because I got quiet enjoyment from seeing their inane hamfisted efforts at selling me financial services

Sorry but if no one complains they get away with it time and time again which is not right. And so on the forum we keep getting told how people are pressurised into something they didn't want

So not very public spirited IMO?

Muhasib

I have raised it with the head office of the agency, just waiting for a reply