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Estate Agents' In House Mortgage Advisors
FTB1234_2
Posts: 11 Forumite
Morning all
I’d be grateful to canvass your opinions on estate agents’ ‘in-house’ mortgage advisors. We are viewing 3 different flats with the same estate agent tomorrow (first time we’ve had viewings with this company) and they have asked us to come in 30 mins early to have a talk with their in-house mortgage advisor. I gather this is fairly common (we’re FTBs but others have mentioned this) but I am immediately sceptical/cynical about this, assuming that they just want to establish the maximum we could pay/try and sell us a mortgage to get a (presumably) hefty commission.
So we’re approaching this on guard (we already have an AIP from Lloyds), and are concerned that when they see what the maximum we could possibly ever achieve, mortgage-wise is, it will undermine our haggling abilities later. But, is this incorrect? Have others have good experiences with EAs’ mortgage advisors? Is there a chance they may actually be impartial (he is WoM apparently)? Impartial in terms of deals, obviously not in terms of what we may eventually pay for a property. Or should we just go along to please the EAs, but not really take any of the advice toooooo seriously?
Many thanks in advance for your comments.
I’d be grateful to canvass your opinions on estate agents’ ‘in-house’ mortgage advisors. We are viewing 3 different flats with the same estate agent tomorrow (first time we’ve had viewings with this company) and they have asked us to come in 30 mins early to have a talk with their in-house mortgage advisor. I gather this is fairly common (we’re FTBs but others have mentioned this) but I am immediately sceptical/cynical about this, assuming that they just want to establish the maximum we could pay/try and sell us a mortgage to get a (presumably) hefty commission.
So we’re approaching this on guard (we already have an AIP from Lloyds), and are concerned that when they see what the maximum we could possibly ever achieve, mortgage-wise is, it will undermine our haggling abilities later. But, is this incorrect? Have others have good experiences with EAs’ mortgage advisors? Is there a chance they may actually be impartial (he is WoM apparently)? Impartial in terms of deals, obviously not in terms of what we may eventually pay for a property. Or should we just go along to please the EAs, but not really take any of the advice toooooo seriously?
Many thanks in advance for your comments.
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Comments
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What group does the EA belong to?
Is it a Connells/Sequence or Countrywide, or someone else?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It's a branch of Sequence.0
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Sorry, no it's not, that's the other one. Cubitt and West - not sure what their larger umbrella organisation is..?0
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Website states their mortgage advice is free. They dont seem to be one who rings alarm bells as mentioned above.
Personally, if its not to much trouble for you I would go along and see what he has to say. However I would refuse to allow them to do a credit search. This isnt neccessary until your lloyds AIP runs out or you find the house you want and are ready to do a full application.
Let us know what happensI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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