sellers requesting mortgage adviser?

londonlydia

Hi,

my partner and I have just put an offer in on an house. We are first time buyers, and have a mortgage in principle in writing, and actually we are looking to buy a house about £50k less than we can borrow and are in a better situation than many youngun's are.

After I explained this after putting the offer in, the estate agent stated that the sellers had requested that potential buyers speak to a mortgage advisor, who would call us the next day.

Am I being sceptical in thinking it might actually be the estate agents who are trying to shoe-horn in their preferred mortgage advisor so they can reap the comission...or is this a genuine action that sellers take?

jjlandlord

This is just the EA having a laugh trying to push their mortgage advisor to get a commission...

sirmosh

Tell them where to shove it. The estate agents just want a bit of extra commission. By all means see an advisor but go to your own independent advisor who will compare the whole of the market and save you money rather than make themselves more.

SG27

It's the EA. no seller would request this when you have an AIP. When the advisor rings just politely say your mortgage is sorted. Whatever you do don't give any of your financial information over unless your offer has been accepted. The "advisor" will tell the estate agent, they are probably in the same office, an he will use this to try and push your offer up once he knows you can afford more.

Good_Money

I am going to view a house on saturday and the EA has said the vendor wants serious buyers only and asked if i have a mortgage agreed in principle (which I have).

I then get a call from the EA mortgage advisor saying I have to see him first. I said "very well but I already have a mortgage agreed in principle"

He more or less admitted the EA does this so they can try and get some commision on selling you a mortgage.