EA insists I see mortgage adviser before I can make an offer....

neverdespairgirl

evoke wrote: »

To the OP, this simply sounds like a way of the EA confirming you have the ability to pay. The vendor may have had one or more deals fall through in the past and, like me, has instructed the EA to qualify potential buyers better. It could also be a way of finding out how much you can offer and that may be passed on to the vendor so beware of that.

I don't think it is "simply" that. After all, buyer could produce his mortgage agreement from his own selected company, or a letter saying they are quite happy to lend £X.

it's the EA wanting to make money.

aqueoushumour01

i would strongly advise against it. as soon as the EA knows your finances, you will be at a disadvantage in any negotiations.

poet123

Put the offer in writing, send a copy to the seller,with a copy of your mortgage offer with personal details blanked out, (without telling the EA)and politely decline the IFA interview.

bigheadxx

I cannot see a vendor being particularly happy about a serious buyer being messed about an offer not being communicated. I would send the EA a written offer letter, detailing the discussions you have already had. Copy the letter to the vendor and time limit your offer.

vikingaero

CloudCuckooLand wrote: »

Then proceed to make the offer. And check their affiliation with any industry body - NAEA or similar - and search for the section of their code of practice which says they must not allow marketing of other products to influence the process...

Naah, it's easier to put a brick through the window of the EA for being a merchant banker....[that was a joke btw for the ones without a SOH].

With all due respect the NAEA is too fluffy.

ILW

aqueoushumour01 wrote: »

i would strongly advise against it. as soon as the EA knows your finances, you will be at a disadvantage in any negotiations.

Why would that be?

chris_m

ILW wrote: »

Why would that be?

Easy, if the EA sees documentation showing you have a mortgage in principle for, say, £180K and you put in an offer for £150K they know you have another £30K available - it's like playing poker with a marked deck.

LilacPixie

IMO using a MA attatched to an EA is a conflict of interest that should be avoided. I point blank refused to tell an agent my budget.

I agree an agent should have a way of weeding out time wasters but as I assume the OP has already viewed the property, probably several times ( i am not the only one who views multiple times before I offer am i?) and now wants to offer I would be very very 'annoyed' as a vendor if the agent I was paying for a service refused to accept an offer despite AIP arranged elsewhere until their own in house MA was consulted. As far as i'm concerned it could be jepordising a sale.

hazyjo

I find just being firm with them helps. Just say 'no, we won't be doing that as we've done our own homework thank you very much, but we'll happily get a letter from our mortgage provider saying we can afford the house. They shut up when you're firm. If they still bang on, just say that's all you're prepared to do, along with getting the survey done within 2 weeeks, and want to proceed quickly.

Jx

diable

Look the EA straight in the eye and ask him "do you want to sell this property or not" than stand up and tell him you are off.