Do we trust the estate agent

DLTAG89

We are first time buyers and our first step was going to the bank (Halifax) to see how much we could lend. We came away with a mortgage promise and an offer that the bank would pay for our stamp duty.

We have since found a house and had an offer excepted on it. We went into the estate agents yesterday morning and they tried to find us the best mortgage but in the end they said the bank (with the stamp duty offer was the best). We phoned the bank and they told us the offer had ended. So going back to the estate agent and telling them this they said they could get us a good deal on a mortgage.

We have an appointment on sat morning for them to sort us one out. He also told us the solicitor we have chosen was a rubbish one and he will also find us a good one.

Are we putting too much trust in the estate agent, should we be doing this ourselves or should we go along on sat and let them do the mortgage and solicitor finding?

~Beanie~

Its never the best idea to use the mortgage adviser or solicitor that the Estate Agent recommend, I would go out and find my own.

DannyboyMidlands

Come on, you know the answer really.

You should sort out your mortgage and solicitor independently of the vendors estate agent.


Personally I'd even sort out my own mortgage online. No broker at all. What's so difficult?

DRP

DannyboyMidlands wrote: »

Come on, you know the answer really.

You should sort out your mortgage and solicitor independently of the vendors estate agent.


Personally I'd even sort out my own mortgage online. No broker at all. What's so difficult?

yeah this^^

unless you are a particularly unusual/difficult case, just get quotes from the major banks and do some research - i know this great little website where you can find all sorts of info....:rotfl:


http://www.moneysavingexpert.com/mortgages/

hazyjo

SOMETIMES (I stress that lol) EAs have been helpful. I chose my last firm of solicitors, but my EA told me who to ask to deal with as some there were slower.

The EA's mortgage bod might well charge you a fee - if so, don't use them. Personally, I would use an independent whole-of-market broker, or, as above, do my own research (which is what I've always done).

If they 'recommend' their own in-house solicitor, I would use my own, not theirs. Not generally advisable (they will make all sorts of claims about it speeding up the process, keeping it all under one roof, yada yada yada...).

Good luck

Jx

dominoman

I would never use the EA's solicitor. You want one that is working totally independently for you, and I would always have doubts with the EA recommended one (even though it will usually be OK - and the agent only recommends them for the fat commission.

On the mortgage look around, and speak to an independent broker like John Charcol. Then see if the EA can beat it. No harm in finding out.

MarkBargain

My advice is to:

- Research your own mortgages with trustworthy organisations such as the Co-op Bank, Nationwide and local building societies, especially if you hold accounts with them already. Arrange some meetings with them to see what they will offer.

- Contact some local solicitors to ask for quotes. They are probably similar, so pick one with a good reputation or personal recommendations.

I would NEVER go with a solicitor or mortgage offered by an Estate Agent, as they do this for their own referral bonuses rather than your interests.

eddddy

DLTAG89 wrote: »

.... He also told us the solicitor we have chosen was a rubbish one.....

Hi DLTAG

Just for a laugh, I'd be tempted to write to the solicitors telling them what the EA said about them.

I suspect that the EA might swiftly get a 'cease and desist' solicitor's letter in relation to defamation of character - plus a threat to sue for consequential lost business.

DLTAG89

Thank you all for the advice.

We have stored out a solicitor and i've spent the afternoon getting mortgage quotes. We are going to go along on sat morning and see what he says but we have a few fall back plans now.

Its so difficult knows who and who not to trust.

Mallotum_X

The other issue with getting your mortgage through the agent is they now know how much you can afford. Remember they act for the seller not the buyer in the process so will try and push you to pay the maximum for any house you look at.

GDVS

DLTAG89 wrote: »

Its so difficult knows who and who not to trust.

You trust people? How sweet