Mortgage adviser at estate agent asking salary details

redbabe

Hi
Just put an offer in for a house - first time ever. Before the estate agents would pass on the offer I had to speak to the mortgage adviser based at the estate agent - they said it is their policy to make sure that I was in a position to make the offer. He asked me my situation i.e. am I a first time buyer and he also asked me my annual salary.
Is this normal? I'm sure I've read somewhere that they shouldn't do this. If they shouldn't do this how do you deal with it seeing as you are reliant on them passing on your offer? As a higher offer has already been made on the house - and they can't tell you how much higher it is - I just went along with it as I didn't want to prejudice my position.

Thanks

Jonbvn

Best to avoid EA mortgage advisers IMHO.

Regardless of their policy, you do not have divulge such information to them. If they refuse to accept your offer, so be it.

To smooth your house hunting, I would suggest you get an "agreement in principle" from a mortgage lender, who you have selected (not the EA).

sm9ai

Very bad idea to mention your salary as they will try to squeeze every last penny out of you.

olly300

Tell them you have a mortgage broker and do they want the details. If they do give them a telephone number. (They won't call it.)

They will then leave you alone.

Don't tell them what job you do, your salary or the amount of your deposit at any cost. As otherwise you will suddenly find other bidders who can go up to nearly 5 times your salary.

Phirefly

Another perspective though, if you play lip service to them, they do view you more favourably. It shouldn't be that way but it is and you can work it to your advantage.

rocko

redbabe wrote: »

Hi
Just put an offer in for a house - first time ever. Before the estate agents would pass on the offer I had to speak to the mortgage adviser based at the estate agent

I may be wrong, but I thought that estate agents had a legal obligation to pass on every offer to their clients (even a stupid offer of 1p would have to be passed on)

cattie

rocko wrote: »

I may be wrong, but I thought that estate agents had a legal obligation to pass on every offer to their clients (even a stupid offer of 1p would have to be passed on)

Not if vendor has told agents only to send viewers in a proceedable position, or estate agent has this policy, which my independent one did.

Also vendors can tell ea's not to bother to pass on stupid offers or those at a price lower than they would be willing to consider, which is what I did.