Show EA payslips?

elDeeJay

We put in an offer on our first house last week and today got word that it had been accepted (YAY!). now though, the estate agents want us to product 3 months payslips and 3 months bank statements in person before we can proceed!
Is this normal? What has this got to do with the estate agents? Why should I divulge my financial privacy to them? Am I obliged to do it? We already have the mortgage in place and have an AIP ready & waiting...

Jorgan_2

This is not normal, find out why the EA wants to see this documentation. If they tell you it is to do with money laundering then you can provide, amongst other items, bank statement, utility bill (not mobile phone), council tax bill, driving licence. As proof of id you can provide photo driving licence or passport. You can't use driving licence as both proof of address & I.D.

Give them your broker/lenders contact details if they want to ensure you can afford the property.

Pennywise

Presumably if you have a mortgage agreed in principle, you'll have (or can get) a mortgage certificate which is all the EA needs together with ID proof as already mentioned.

I suspect they are just trying to get your details so they can offer a mortgage via their own preferred lenders. Don't give into them unless you are happy to have another mortgage quotation from a different company.

F_T_Buyer

Don't forget if EAs mortgage broker sees your income details they *may* take this into account when recommending the vendor accept your offer or not. Although this shouldn't happen, it does.

elDeeJay

yes, our broker has a mortgage certificate. If I take that then and we take our driving licenses that will hopefully be enought.

thanks for the info - i thought it was weird. they probably just want to give me a hard sell on their own mortgages!

lilyann1

Yes you're right they probably want to get you to see their own mortgage adviser which all EA's seem to be doing at the mo.
I told the agent that we were buying from that we had already seen my estate agent's mortgage broker and I had already had my mortgage agreed elsewhere too and they still insisted I see their broker.
Don't show them your pay slips there is no need for this.

ratcrazy

I was shocked yesterday when I put an offer in as the estate agent said they would not put the offer to the seller until we had come into the office to see if they could offer us a mortgage. I contacted the person who is doing our mortgage and he phoned the estate agent for me - apparantly they have to put the offer to the seller by law or something. We are getting a 100% mortgage and this ea/lender doesn't do them and they STILL wanted me to go in

estate agents seem to have a bad name but they don't do themselves any favours:rolleyes:

elDeeJay

Just called them now and they couldnt justify why they needed them other than to claim "the vendor wants us to see proof or they will not take it off the market!". They also claim the vendor "wants us to speak to their mortgage advisor to qualify us as valid buyers". I told them they had no right to see my payslips or bank statements but I did have a passport, driving licence and current mortgage certificate that I could provide and they reluctantly agreed, although Im anticipating much hassle when i go see them later because they did not seem very happy.

DopeyDora_2

We put an offer in on a house on Monday (yesterday) which was accepted (woo hoo!). The Estate Agent was keen for us to see their in-house mortgage broker which I did on Monday lunchtime.

I too was a bit dubious, but a few people assured me they can't share your personal info with EA's or vendor, they're just confirming you are able to buy the property you've offered on.

As it happens, he found a better mortgage deal than I had managed myself which he has already had approval of today. We are going back to see him on Thursday to check the mortgage application proper, but things should now move really quickly (fingers & toes crossed) as house we are buying is empty & we are FTB's.

Just need to instruct a solicitor now...

Dora x

Epiphone

If you're friendly with the vendors perhaps you could give them the offer direct and slip into the conversation that the EA were blocking you? Not sure if that's legal or anything but if the EA is fighting dirty...