Foxtons and alleged mortgage rule changes

betmunch

Sorry for my bad use of quotes but I will answer your points in bold so you know whats mine:

jockosjungle wrote: »

True there are some good brokers in branches, usually the local independant estate agents with an independant MA.

Cant argue with that

However one in a chain, who works for a chain of MA's who look at a small panel of lenders simply are not. How can they sit there and say they can get you a better rate when they know they cannot?

Your issue here is with an individual lying to you. It is possible they COULD get you a better rate, but would need to sit with you first to find out your situation!

That they tell you lies that only they can get you a mortgage and you cannot get it yourself.

Again, you have been lied to by a bad salesman posing as an advisor

The one we had to see in a Countrywide, had clearly been on a course in bullying you into using them, (I know the course!) he even had a brochure to further justify his points.

I think your thinking of the Welcome pack, this is a sales tool to show you the advantages of using Countrywide. If he was bullying you with it then again, its the individual at fault, not the Brochure

I don't think you'd keep your job betmunch if you told everyone who went through your door that if they went direct to HSBC or the Post Office they could get a better rate and they didn't need you.

Of course not, I'd be sacked by the company, but later when the FSA found out I had been advising people to use someone I dont have access to without doing a fact find they would strike me off too which is worse!

Also, not everyone can get the post office or HSBC rate. I advise people I dont use lenders such as HSBC, Britania, etc and they are welcome to go there if they wish

Chances are people can get a better rate with such lenders without using a MA, no offence intended but you obviously don't tell people they can get a better rate without using you, so what do you tell them?

I dont have a problem with what I tell people. So I will share with you what I do:

I offer people my service. I tell them which lenders I use and roughly how many schemes I will filter through for them (currently hovering round the 10,000 mark) I tell them that some lenders they will need to go direct to ask about their products. I tell them about the service I provide and that I am recommending the best solution for them based on the lenders I have access to. I find out their plans for the future and recommend a protection package to make sure that the unknown will not prevent them from doing what they want. I explain the whole homebuying process and where the problems are and what I will be doing to help them avoid said problems.

Finally I never ever Bully someone to come in and see me or use me after they have seen me. I also refuse to let the EA staff get away with this. The result is a lot less work for me but the same amount of mortgages written.

Jocko I have read your posts, you have a cracking deal with the post office. You seem quite financially savvi in my opinion and you did the right thing for you. However everyone is different and many need their hand holding. You should not assume eveyone is confident just using moneysupermarket for their mortgage then going through a 16 page application on their own

R

Bananamana

Another reason to bring Agents into the regulated sector

<ducks>

Thankfully the brokers will be regulated by the FSA and most I have dealt with have been pretty reasonable like betmunch above

betmunch

Thank you Bananamana, and those that hit the Thanks button.

I sometimes think I am fighting a lost cause. But its people like you (and the lady that told my boss how great I am today ) that makes it worth while

Cheers