We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
EA asking for proof of mortgage before taking my offer
Comments
-
Can you not just send a copy of your driving licence/passport along with a note explaining that you have a mortgage agreed with X. If you know the name of the advisor you dealt with then give it and decline their offer of their own FA. Address it to the manager of the branch and ask that your offer is forwarded ASAP o the vendor. You could send a copy of this to the vendor explaining why you are having to do so.0
-
We had exactly the same thing. We simply asked our mortgage provider to email the vendor's EA with a letter stating "We are happy to lend Mr & Mrs Lister a mortgage to buy a property worth £x".
Where £x was our offer, NOT our max mortgage.0 -
kingstreet wrote: »The agent is obliged under the EA Act to "qualify" all offers to ensure the purchaser has the ability to raise the funds to complete the transaction.
The Act is silent on how it should do this, but it would appear reasonable to request evidence of deposit and mortgage.
According to the OFT guidance on the Estate Agents Act (1979) estate agents should pass on ALL offers - unless the vendor has told them they do not need to.
http://www.oft.gov.uk/about-the-oft/legal-powers/legal/estate-agents-act/handling-negotiations#named1Informing clients about offers
You must give your clients written details of all offers received from potential buyers. This information must be passed on promptly. It can be sent by hand, post or fax.
You should keep a written record of all offers that you receive.
If your client tells you in writing that it isn't necessary to pass on certain offers, you don't have to write in those circumstances. For example, this could happen if the client doesn't want you to write with offers below a specific price level.0 -
You've quoted what I said about qualifying offers, but referred to communicating offers...?
I'm confused?
Are you construing what I said about qualification as a link to not communicating offers to vendors? If so, I'm doing nothing like that.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards