Put in offer they want proof of mortgage

brock-cruse

Ok so when i get to put an offer in on a house they will want proof that i can afford the mortgage. I will probably be organising the mortgage myself (changing from current building soc as their rates arent competitive) and I have been in touch with one already (over the phone) who has said that it is ok and that they will give us the mortgage that we need. They have emailed me the key illustrations etc. However, this is if the property goes up to asking price. I am hoping we may get it cheaper. So how do i go about showing the agent who the property is up with the proof that i have a decision in principal without showing him the key illustration with all thef igures on? Trying to do a bit of bluffing on price here!!

cattie

You phone back the lender & ask that they send you a mortgage in principle certificate or letter as estate agents are requiring you to produce one.

beachbeth

I may be wrong but I don't think you have to have proof. It is none of the agent's business what mortgage you have. It is just their job to sell houses not to look into people's financial dealings.

JoKay_2

I agree with beachbeth - I don't think its mandatory for them to see proof of a mortgage.

Many moons ago, I was an estate agent, and whilst we were very keen to ask all the mortgage questions (so that our inhouse MA could try to get the business) it certainly wasn't compulsory.

HTH.

dnwilliams

EA’s have a duty to provide their clients with as much accurate information as possible about a prospective buyer and their ability to purchase, enabling them to make an informed decision regarding an offer. If the information is not forthcoming then this only serves to make both agent and vendor wary.
This is especially pertinent in cases where there is more than one interested party.

edwara

I know it is none of the EAs business technically but the problem is people make offers, without having got mortgages etc sorted.

We accepted an offer on our last sale as we were told the bottom of the chain (our buyers buyers) didn't need to get a mortgage. It was one of the main reasons we accepted the offer. Any way very long story but 5 weeks into the process everything ground to a halt as the bottom of the chain then deiced to apply for a mortgage. I understand people sometimes see a house on the whole process takes so long and is so painful if you are ready that when people haven't got anything in place it just makes it a whole lot worse.

If you have got a mortgage agreed etc then it makes it more likely they will accept your offer. How do they know that you aren't fibbing and wasting time? Think how you would feel if they were offering on your house. This kind of illustrates a lot of the problems with the house buying/selling process, everything is taken on trust and it makes people wary. You have to take people on their word and from bitter experience I know that is not always reliable

Good luck and I hope you get the house you want at the right price!