Mortgage through an estate agent-help!

bristolgymdude

If you used an estate agent Taylors and were told that who they were are very competitive using the open market, but found out that once you signed that the fees were often double that of others solicitors fees. Would you be able to claim your deposit back as the advisor has told you incorrect information? I could loose £200...... HELP?

BitterAndTwisted

Why would you go through an estate agent to apply for a mortgage? If you stand to lose £200 at this point I'd say you've just got off very lightly. In the great scheme of things when buying a property £200 is a drop in the ocean.

I'd say you might have a case if you've got any of the information given to you in writing, otherwise not. What is the documentation which appear to have signed and did you read and understand it before you did so?

Milliewilly

Do you mean you are using the Estate Agent for the Mortgage or their Solicitor for conveyancing? if its the former go and see an independant financial advisor asap as it may be worth forefiting the £200 to get a better mortgage deal.

If you have signed on the premises I don't think there is any cooling off period?

DVardysShadow

Never ever buy services from an estate agent. There are too many conflicts of interest.

Fire_Fox

Why would you believe the [STRIKE]salesman[/STRIKE] advisor, did you not do any of your own research?

JQ.

Erm. If you're saying you used the Estate Agent's Mortgage Advisor and they recommended a firm of solicitors I suspect you've lost alot more than £200. The Estate Agent act for the vendor and everything they do is in the vendor's interest. By telling their mortgage advisor all you financial information it will have had a direct impact on how they treated your offers. You may well have overpaid for the property. Always take INDEPENDANT financial advice. Good luck.

LandyAndy

DVardysShadow wrote: »

Never ever buy services from an estate agent. There are too many conflicts of interest.

I agree. Always just politely decline their offers.

bristolgymdude

I was in contact with them as I had seen a diferent property to which I was very interested in. The mortgage advisor had got me a mortgage offer in principle. The property sold and I was unable to proceed. I then found a property myself and re-contacted the mortgage advisor as she had got the mortgage in principle, so to save time gave her the details of the property I had found and decided to proceed forwards taking on board what advice I had been given. I then started to compare her advice to do my own research. it seems a bit strange that I had to pay various deposits for Solicitors, surveys before even getting the official mortgage offer. I am still waiting as the vender has not responded to any of the messages left by the suryeyor. Until this has happened I obviously will not get the official mortgage offer. I have found a good local Solicitor who is going to act for me. The other services that Taylors told me about (life cover, income protections and house insurance) seems compariable to the open market.

This obviously left me dissappointed with some of the advice given. I did feed back to her stating the difference in quotes for Solicitors fees and explained that this proved that these fees were indeed NOT compariable to the open market.

Richard_Webster

This obviously left me dissappointed with some of the advice given. I did feed back to her stating the difference in quotes for Solicitors fees and explained that this proved that these fees were indeed NOT compariable to the open market.

If the estate agent arranges the mortgage you can use your own solicitor and therefore their solicitor's fees have nothing to do with anything!

bristolgymdude

I am glad to say that I received a full refund by cheque today! WOW brilliant outcome.