Do we have to have a qualifying meeting?

WalkinX

My partner and I have put an offer in on a flat that is being sold by Haart estate agents.

When I rang to offer they said we had to come in for a meeting to see if we qualified for a mortagge and to see their mortagage advisor. He said it was company policy and that after that meeting we would be told if the offer would be accepted.

My partner, her brother and someone else we know who has bought (I think from Haart) says that this is not necessary.

Is it necessary?

Thanks

Honest_EA

It's just a ploy to get you cornered by their mortgage advisor to try and sell you a mortgage or other financial product such as insurance. There is absolutely no need to see them before putting in an offer. Tell them you have your own advisor and you want your offer to be put forward immediately.

googler

No.

The TPO and NAEA codes of practice both state as such. Google them for confirmation.

If Haart are signed up to either, ask them why they're acting contrary to their own code.

If Haart aren't TPO or NAEA members, ask them why they think it's acceptable for them to act contrary to these generally-accepted codes of practice....

CloudCuckooLand

This question is asked so often, it is about time the NAEA cracked down on this unscrupulous activity. Presumably this agent is not a member..?


6. Submission of Offers
6a By law, you must tell sellers as soon as is reasonably possible about all offers that you receive

Discrimination

6c By law you must not discriminate, or threaten to discriminate, against a prospective buyer of the seller’s property because

that person declines to accept that you will (directly or indirectly) provide services to them.

Failing to tell the seller of an offer to buy the property...
Telling the seller of an offer less quickly...
Making it a condition that the person wanting to buy the propety must use any other service...

http://www.naea.co.uk/media/29526/oeacodeofsales-2.pdf

CloudCuckooLand

Just re-read and spotted mention of Haart - who are TPO...

Wonder if "Haart Estate Agents appear to be in breach of The Property Ombudsman Code of Practice" would get any attention at the top of google...?

The TPO Code of Practice is the same document as NAEA, even down to the inability to copy and paste easily.

OP, contact TPO and complain using http://www.tpos.co.uk/contact.php

(additional search words; mortgage offer appointment qualifying meeting)

chromofoam

Haart are part of the national Spicer Haart group who will definitely be NAEA and Ombudsman members, and will also be regulated by the OFT.

HOWEVER - why not just take your current decision in principle, have the meeting with the mortgage advisor anyway because THEY MIGHT BE ABLE TO OFFER YOU A BETTER DEAL!!! And if it doesnt work out then you havent lost anything and you've gained a whole load more advice and information and you haven't !!!!ed off your agent and lost him/her a mortgage appointment which they need to get because they'll be targeted to book them.

Do yourself a favour and just go to the meeting!

tyler80

Haart keep asking me to see their mortgage advisor but I just keep saying no, they've not insisted it's policy. They struggle with the concept of a maximum offer being the max you want to pay rather than afford thus wanting us to see the advisor so we'll increase our offer. It ain't going to happen. It doesn't seem to have harmed us yet.

sonastin

Agree to a meeting but be unavailable for a couple of weeks. Tell them that you expect them to still put the offer forward as there is no need for the meeting to take place for that to be done as the two things are unrelated. Provide a copy of your AIP if they insist that they need to see proof of funds. If the offer is accepted, decide whether you still want to have the meeting to find out if they can do you a better deal. Unlikely but possible...

CloudCuckooLand

CloudCuckooLand wrote: »

Discrimination

6c By law you must not discriminate. Including;
Telling the seller of an offer less quickly...

chromofoam wrote: »

if it doesnt work out then you havent lost anything

It could be that buyers have two or three properties in mind, and need quick decisions to be able to go back to each.

If they lost this one to another buyer after delays in having a meeting, and then went back to their fall-back choice, only to find that had sold also, they would have "lost something".

By law. Offers should not be delayed.

Meeting a sales target is not a good enough reason.

WalkinX

Ok cool

My partner rang up and cancelled the meeting though didn't speak to the guy we've been dealing with it was his colleague.

We haven't got our mortagge yet, we went and saw a few banks and the mortgage broker so we had ideas for prices and products. We have done a budget and reckon we could afford it.

We are thinking with going with London and Country mortgages to deal with the mortgage, they seem alright.

Should I ring haart back up, say we are already going with another broker and to ask about the satus of the offer?

G_M

Put your offer in writing. That way they have to pass it to the vendor.

But you really should get a MIP sorted out (via them, your bank, direct to another lender, or best of all an independant mortgage broker) before wasting everyone's time making an offer.