Estate agents want proof of deposit and AIP

AndyGuil

koneko wrote: »

This isn't something I've heard of before - I was under the impression that you could go with whoever you wanted for conveyancing? Our mortgage advisor hasn't said otherwise. Our AIP is with Halifax if that makes any difference?

Halifax have a list of approved solicitors. Need to make sure your chosen one is approved by them.

koneko

AndyGuil wrote: »

Halifax have a list of approved solicitors. Need to make sure your chosen one is approved by them.

Crap - how do I find out if they are on the list? I don't really want to use an unknown solicitor just because they are approved by the bank.

chanz4

most if not all are on them

AndyGuil

koneko wrote: »

Crap - how do I find out if they are on the list? I don't really want to use an unknown solicitor just because they are approved by the bank.

The bank will tell you if they are not. As mentioned above most are. I have had a solicitor be on the list at the start of the process but were late with paperwork (that the bank issue for their checks) and got booted off the list temporarily until the paperwork was reviewed. Fortunately didn't cause a delay. The bank will need to know your solicitor as they will act on their behalf as well as yours. You know then if there is an issue.

ruggedtoast

I wouldn't give them bank statements, but it's not that uncommon for some agents to want you to talk to their ' independent' mortgage broker.

This can work for or against you depending on what you want them to think. All agents I know of will want your broker to confirm with them that you can afford the property.

ethank

Ask the EA to contact your mortgage broker to confirm your AIP status. A good agent will qualify that you can afford the property, but they don't need to know the detail!

Twinkletwinkle_3

We had to do this recently, showed bank statements printed off the internet with the account details, apart from the name blanked out, we also had a gift of money from parents, either transfer the funds to one of your accounts or use their statement (with details blanked out apart from name) and a signed letter from them stating that the money will be a gift. I'm pretty sure our agent provided us with a AIP by email that just stated that there was an offer of a loan for the amount necessary for that purchase.

It gets worse later on as for money laundering regs solicitor will want to see where the money has come from and be able to trace it back.:mad:

Riggster

The EA are trying to con you into using their mortgage advisor to get a kick back. Refer them to your solicitor.

C_Mababejive

Simply get solicitor to write to EA and confirm that you have the necessary funds. EAs are way too nosey and get above themselves.

koneko

Thanks all.

I have confirmed today that are chosen solicitor are on Halifax's list so that is all good.

Our mortgage advisor offered to call the agents to touch base, ask a couple of questions about the property and confirm that he has the AIP and is submitting the full mortgage app today. Will see what they say to that.