What should we do?

K_and_N

Hi all,

We saw a property online that we really like and called EA to view it tomorrow.

But the EA is really pushing us to see their mortgage advisor. They said the vendor wants them to make sure that potential buyers are actually afford to buy.

We don't really want to give our financial details to EA but at the same time we really like the property and want to view it. We already have AIP for our mortgage.

We told EA that we will bring in our AIP tomorrow to show it to their mortgage advisor and he seems to be ok. But what if they are not happy with AIP but to take all our financial details (salaries etc)? What should we do then?

What is the worst it could happen if they have that kind of info from us?

Thanks a lot.

K & N

ciano125

Dont show them your mortgage in principle, it will show what you can borrow which the other side will then know, so if you want to spend less than you can borrow, they'll be more likely to say no to your offer.

Stand firm, say you can afford the house and you wouldnt be looking at it if you couldnt, and you wont be giving their mortgage advisor any information because you already have it sorted. If they dont like it, tough, there are plenty of other houses to go and buy instead.

sinbad182

The EA I bought through tried this s**t on me too. Seeing their mortgage advisor lets them know exactly what your bargaining power is. Even ignoring this, I refused out of principle, as my finances are my business only, certainly not that of an EA. I think there is a law which says they have to forward any offer you make, so they cant force you to see the advisor.

timmyt

K_and_N wrote: »

Hi all,

We saw a property online that we really like and called EA to view it tomorrow.

But the EA is really pushing us to see their mortgage advisor. nonesense. simply say you have a mortgage broker (indepedent) already paid for and that is why you are house hunting....lways avoid EAs advisors as they are crap and not indepedent They said the vendor wants them to make sure that potential buyers are actually afford to buy.

We don't really want to give our financial details to EA but at the same time we really like the property and want to view it. We already have AIP for our mortgage.

We told EA that we will bring in our AIP tomorrow to show it to their mortgage advisor bring it in but say you are not interested in any meeting just a view of the proeprty and he seems to be ok. But what if they are not happy with AIP but to take all our financial details (salaries etc)? What should we do then?

What is the worst it could happen if they have that kind of info from us? nothing just a hard sell.

Thanks a lot.

K & N

you should never place your property for sale with a national/corporate estate agents as they do this sort of thing. tell 10 friends and pass it along and these outfits will go out of business. always use local estate agents as they value their own reputation.

wherediditallgothen

Tell them to go forth and multiply, if you know what I mean

They are quite within their rights to want you to do this, as there are people stupid enough to fall for it. If they want to have a chance of selling you the house, make it so they will have to play by your rules on this issue.

K_and_N

Thank you.

Can EA refuse to let us view the property if we won't provide our AIP or see their mortgage advisor?

We are definitely not going to pay more than the property worths in today's market no matter how much we like it. But since in the area we really like, we'd at least want to have a viewing.

K & N

timmyt

you can say that you will put a letter through the door to the owners and say what the estate agent is up to...that we find works a treat

spread the word, and name the estate agent

Bullfighter

From the vendors point of view it is a filter to stop full time time wasters from viewing and making spurious offers.

That said, I agree 100% that as soon as you provide the EA with your financial situation you have potentially declared your maximum offer price.

You could contact the vendor directly, walk away, or maybe go along with the review but stick to your guns. Just because you have £250,000 in the bank doesn't mean that the house you want to buy will be instantly worth £250,000. Be direct. "The house is only worth £150,000 to me, that's my final offer" etc.