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Estate agents and Mortgage Advisers
Hyperdoo
Posts: 1 Newbie
Hi all,
I was looking for a bit of advice on dealing with estate agents with regards repossessions. I am a first time buyer and am looking at purchasing a property with repossessions preferable due to price.
As part of the viewing process, I have been asked by an estate agent to see their in house mortgage adviser and this will lead to me being treated as a 'cash buyer' and being informed immediately of any new properties and generally, they gave the impression that I would be preferential over other buyers who hadn't done this. I already have a very good idea of which mortgage offer I want to take and can’t see anyone beating this as I want a longer (5year) fixed deal and there aren’t that many options around.
Anyway, I was just wondering whether seeing the in house mortgage adviser would lead to potential problems down the line if firstly. I don’t use their adviser’s recommendation, and secondly, if they know exactly how much I can afford, could this lead to them pushing up the price later on down the line once say, solicitor’s fees/ searches have been committed due to the nature of the sale process for repossessions.
Many thanks for any help,
I was looking for a bit of advice on dealing with estate agents with regards repossessions. I am a first time buyer and am looking at purchasing a property with repossessions preferable due to price.
As part of the viewing process, I have been asked by an estate agent to see their in house mortgage adviser and this will lead to me being treated as a 'cash buyer' and being informed immediately of any new properties and generally, they gave the impression that I would be preferential over other buyers who hadn't done this. I already have a very good idea of which mortgage offer I want to take and can’t see anyone beating this as I want a longer (5year) fixed deal and there aren’t that many options around.
Anyway, I was just wondering whether seeing the in house mortgage adviser would lead to potential problems down the line if firstly. I don’t use their adviser’s recommendation, and secondly, if they know exactly how much I can afford, could this lead to them pushing up the price later on down the line once say, solicitor’s fees/ searches have been committed due to the nature of the sale process for repossessions.
Many thanks for any help,
0
Comments
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they after some commision from their inhouse mortgage advicer as always, plus knowing your finances gives them an early lead.... bad for you basically. a at anytime they may say'' there is a higher offer than yours'' knowing you can afford more
play it as they do... go with their mortgage advisor .. but dont do full application and credit check.. if you like some house make your offer in writting and they are obliged to forward to the seller... if accepted , go full throtle with the mortgage you had in mind
i bet if you a bit harsh with them they wont nottify you of anything0 -
Make sure you are not hoodwinked into giving credit cards details on some pretext, as they have been known to proceed on an application when not required...Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
Show them the OEA and NAEA codes of practice (find them easily with google searching), which both explicitly say that their members should not discriminate against anyone for not using their supplied services, nor those supplied by business partners.
If they're not OEA or NAEA members, ask them why they're not?
If they think it's OK to do this because they're not OEA or NAEA members, ask them why they think it's good for them to do things the opposite way to that outlined in these codes of practice......0
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