Estate agents fee for using their mortgage broker

headsashed

I have going through the process of buying a property with an estate agent. At the beginning of the process i was asked to pay several hundred pounds to use their financial services. I have then also paid a fee to the broker for arranging the mortgage and a application fee to the mortgage company.

In the end i have not actually bought a property as i was unable to get a mortgage for the property. Is there any likelyhood of me being able to reclaim any of these fees back? I understand i can probably not reclaim the mortgage arrangement fee or the fee to the broker, but what about the fee to the estate agent. I haven't really got anything for that fee, i am not going to be using their services. They do call it an administration fee, although then they say it gives you membership to their remortgage club, for when you remortgage, as i dont have a mortgage this isn't going to happen.

Its just that all these fees have added up (also paid out for valuations, searches etc) and will obviously reduce the amount of money i have left to try to get a house in the future.

G_M

If you (very foolishly) agreed to the fees, then you cannot get them back.

Next time, don't listen to estate agents who try to sell you services which you can get for fre.

timmyt

headsashed wrote: »

I have going through the process of buying a property with an estate agent. At the beginning of the process i was asked to pay several hundred pounds to use their financial services terrible as you only pay the actual person doing the work, not the estate agent for giving you a name!!!! . I have then also paid a fee to the broker for arranging the mortgage not great as many many mortgage brokers work on the commison they get from the lender. AND make sure the mortgage broker is a indepedent financial advisor covering the wholemortgage market not just a few select ones and a application fee to the mortgage company usual .

In the end i have not actually bought a property as i was unable to get a mortgage for the property. Is there any likelyhood of me being able to reclaim any of these fees back? depends on what you signed up to/agreed I understand i can probably not reclaim the mortgage arrangement fee or the fee to the broker, but what about the fee to the estate agent terrible terrible, name and shame them so we all don't make the same mistake . I haven't really got anything for that fee, i am not going to be using their services. They do call it an administration fee, although then they say it gives you membership to their remortgage club oh god it gets worse , for when you remortgage, as i dont have a mortgage this isn't going to happen.

Its just that all these fees have added up (also paid out for valuations, searches etc) and will obviously reduce the amount of money i have left to try to get a house in the future.

a lot of national estate agents have targets - not to sell houses - but the other things they can sell to buyers or sellers - financial advice, the commsion on any survey they can recommend to you and commsio on lawyers they recommend (usually the ones up north).

big targets, milk the customer whether they need the services from that particular estate agent or not.

terrible I know.

you seem to have one of those. see above

headsashed

Guess its jst a hard and expensive lesson.