won't consider an offer until estage agents mortgage adviser vets us?

Nelly321

Hi there Timhastoldme,

I am also a FTB, we were looking at a property with an EA who are also part of the Sequence group... we had the same directed at us... which begs the question, are they really acting on the vendors request?

If you don't mind me being nosey, what county are you looking in?

I also started a thread on this very issue a couple of days ago!!!

timehastoldme

We are in the midlands, the agent kept saying it was just company policy, some vendors want the vetting, some don't, and ours did.

But then an hour later negotiations started, and an offer was accepted without any in branch discussions. I'd made it pretty clear I think that even if I came in, there was zero hope that we would take a different product even if it looked cheaper.

Eve1975

I had this happen recently when I viewed a place. Had some jumped up young estate agent say 'I needed to come in for a cuppa to discuss how financially viable I was' and that 'to get the best deals, get the best properties first and to put the best offers in' I needed to go and see their financial guy. He was very bullying.

He picked on the wrong woman. I stood there and said excuse me? So you are telling me unless I see your FA about a mortgage you will not put in an offer? I went a bit loopy at him. Told him there are plenty more properties and estate agents in the town. I then phoned and spoke to the manager of the estate agent and told him how disgusted I was.

I cannot believe these EA are getting away with it, but it seems they are bullying (this young guy was trying to bully me) into seeing there FA despite me saying I already had an AIP.

Even with the house I am buying with another estate agent, when I put the offer in they had to pass me onto their FA before proceeding to make sure all my finances were in place and questioned me. I was quite cross.

amnblog

You have a right to be cross Eve.

This is totally out of order and I understand it to be illegal from what I have read.

ethank

When buying a new build we were asked to do a similar thing with the developer's recommended mortgage broker . That said they were absolutely fantastic, and I have recommended them to my sister, and my work colleague.

thick_tom

i guess this just tells us where the housing market is at these days.

ILW

They are not saying you have to take any of their products as a condition of the offer being passed on, just a meet with their advisor.
What is the problem?

katejo

ILW wrote: »

They are not saying you have to take any of their products as a condition of the offer being passed on, just a meet with their advisor.
What is the problem?

Because they will try to bully the buyer (particularly a FTB) into taking their offer. When i bought my first place, a mortgage advisor attached to an EA tried to bully me into an endowment mortgage. I refused and she didn't like it.

ValHaller

ILW wrote: »

They are not saying you have to take any of their products as a condition of the offer being passed on, just a meet with their advisor.
What is the problem?

The problem is that the qualification is qualification of bidder being done before a deal is agreed, coupled with an implied suggestion that if you take a mortgage through them ... . The only ethical qualification is qualification of an agreed offer and agents who have associated mortgage brokers should have less slack cut.

ILW

katejo wrote: »

Because they will try to bully the buyer (particularly a FTB) into taking their offer. When i bought my first place, a mortgage advisor attached to an EA tried to bully me into an endowment mortgage. I refused and she didn't like it.

The buyer is an adult, and adults generally know how to say no. Or are people that stupid these days?