Feeling forced to use EA's mortgage broker

vb1986

Hello,

I have recently made an offer on a house which was accepted. I have spoken a number of times to the estate agent's in-house mortgage broker, however I have decided not to use them. The sellers however are using them for their mortgage for the house that they are moving into.

I have informed the estate agent of my decision and that I have already made my mortgage application through someone else. The estate agent sounded shocked and said the seller may decide to not sell to me as they were attracted by the fact that we would be using the same mortgage broker, and that they may decide to go with a cash buyer instead (who offered £5000 less than I did).

I'm not sure if the seller is really that bothered, or if the estate agents are just putting pressure on me, but either way can the estate agents force me to use their mortgage broker? Can the seller object to selling to me because I am not using the same broker as him?

I am now really worried.

TrickyDicky101

<<<can the estate agents force me to use their mortgage broker?

No.

<<< Can the seller object to selling to me because I am not using the same broker as him?

Potentially yes. But why would he?

The EA, like all EAs, is pond life. He will get a kick back from the broker hence his determination to get you to use his broker.

Don't fall for it. Continue as you are.

hazyjo

As above, really.

Would be surprised if the cash buyer even exists. These threatening 'maybes' off EAs REALLY pees me off. Grrrrr. Stand by your guns and tell them to take a hike. It might be worth a letter or visit to the vendor...

Jx

ValHaller

vb1986 wrote: »

I am now really worried.

Don't be worried. In your position, I would speak direct with the vendor - and if the vendor was of this mind, I would let them pull out. I cannot see any sane vendor falling for this - and if the vendor is so soft in the head that they accept this from the agent, you are better off not dealing with this vendor.

edited to add: Never as buyer accept financial, insurance or legal or any other services from an agent.

vb1986

Thank you all. I did suggest to the EA that I speak to the vendor directly, but his response was "I will speak to my client". I am not even sure why the vendor needs to know that I am not using the same broker as long as I am getting a mortgage, I would have thought the vendor would be pleased that my application has been put in regardless of who it's with. I am a first time buyer so it's all a bit unnerving - I'm trying to stay calm and not worry!

ValHaller

vb1986 wrote: »

Thank you all. I did suggest to the EA that I speak to the vendor directly, but his response was "I will speak to my client".

To which the response is "When you leave me to sort out my own mortgage, I won't need to speak to your client". He is a bullying overbearing git. And the sooner you lose all respect for him the better.

Guest101

Lol, ignore the agent. Its nothing to do with them. They just want the £££'s

ACG

This is what really annoys me about estate agents. When they speak to my clients to apply all sorts of pressure which just isnt required. When they speak to me, they are all fine and relaxed.

To the OP, tell them to clarify whether you should be proceeding or not with the Mortgage as YOUR not there to waste YOUR time/money or theirs. Throw the ball firmly back in their court and make it clear your not messing about and your are a serious buyer but your not playing daft games with them. The EA are playing stupid games knowing that you probably love the house etc etc.

If anything an estate agent broker is usually far too busy and you will probably find your broker away from the agents is far better anyway. Alternatively, get your broker to call up... I tell the estate agents exactly what i put earlier in circumstances like this - am i carrying on with the application or not, as my time is valuable to and these are good clients of mine who i am not messing about.

mrginge

vb1986 wrote: »

Thank you all. I did suggest to the EA that I speak to the vendor directly, but his response was "I will speak to my client". I am not even sure why the vendor needs to know that I am not using the same broker as long as I am getting a mortgage, I would have thought the vendor would be pleased that my application has been put in regardless of who it's with. I am a first time buyer so it's all a bit unnerving - I'm trying to stay calm and not worry!

Ask EA to pass a message on to his client.
The message is - 'your agent is a !!!!!!.'

hazyjo

I would tell the EA if he's not prepared to accept you have sorted your own mortgage, etc, you will be posting a letter first class to the vendor tonight to clarify your offer and letting them know any current delay seems to be unavoidable and that you can't get the ball rolling until the EA says all's okay.

Arrogant ****. Grrrr.

Jx

Better_Days

Don't worry. The EA doesn't want you to speak to the vendor as it would expose his games. In your position I would want to find out what is going on. Write to the vendor - give them an email address (you can set one up especially on gmail or the like) or your address and ask them to clarify. I think writing is better than actually going and knocking on the door at this stage as it will give the vendor an opportunity to think about what is happening.

You can if you wish cc in the EA, but as they are being so pushy I probably wouldn't bother.

GL luck with your purchase and well done on securing a mortgage. I recently looked for a mortgage not having done it for years and there is so much to consider as there are so many options about - easy to get confused