Estate Agents know how much I can spend! What should I do?

itbrvilla

Me and my partner put an offer in for a property at a Dixons agents in Birmingham. The offer was rejected, but the agents said that she was told buy the Countrywide Mortgage advisor (in house) that my partner could possibly borrow money.

We previously discussed this with the Mortgage advisor who kept bringing up that everything was confidential and would not be passed on.

The property is part of the 5% gifted deposit scheme and I think they are trying to get us to offer above asking price as they know we can afford more.

Somehow confidential information has been shared.

What should I do?

TEDDYRUKSPIN

Back out. Simple as that. If you don't think the house is worth that amount - move on. No seller is obliged to sell at a reduced price, if they do not want to.

As for the possibility of the data protection being broken, you could actually file a complaint. This does not guarantee you the house.

Finally, countrywide adviser? Mmmmmmmm. Nothing more said.

betmunch

I would make a complaint about it.

This sort of thing should not be discussed between the EA and their in House advisor.

I often get asked this question by our EA staff and you just have to reply with: The clients can go up to £xx,xxx - whatever the client has agreed with you.

Its a pain, but it stops your clients getting ripped off by the EA's

Remember that the EA's job is to get the highest price possible for a property, the Mortgage Advisors job is to get you in the best position to buy a property.

Also, try saying you will not increase your offer, hold firm, and you might find that on reflection your offer is accepted. Let them know if it is not accepted you are not worried about looking in the other estate agents for other properties

Cheers

Let us know how it goes

mortgage-adviser-now

What you should do depends on what you want to achieve.

The Broker should definately not have given your private financial information to the Estate Agent without your permission.

This is the risk the public sometimes run when dealing with a Broker that has a 'relationship' with the Estate Agent.

It should not happen but it does.

Unfortunately I suspect the Estate agent also now knows the maximum you can raise on your mortgage.

Still to your guns on your offer. If the Estate Agent wants to get tricky he/she is on a sticky wicket asyou can complain to Countrywide about how you have been dealt with.

Hope this helps

___________________________________

I am a Mortgage Adviser

You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

_Andy_

Good old Countrywide rearing their ugly head again.

TEDDYRUKSPIN

_Andy_ wrote: »

Good old Countrywide rearing their ugly head again.

Exactly............Countrywide......countrywide.....

I know a couple of their MA who were took on by a major high street lender. Why? Because the sales manager brought them all over because he could receive £2k for each referral. All bunch of ..........! You know what I mean.

Majority of their mortgages were northern rock, sub-prime lenders etc.....

LOL. :rotfl: