We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Home Builders 'recommended' financial advisors
cactusdust
Posts: 431 Forumite
I have recently made a decision on purchasing a new build from a big property developer/house builders using Help to Buy. Whilst placing my (refundable) reservation fee I asked them if I could use my own financial advisor to secure the mortgage. They said "No, you're using Help to Buy so you have to use our mortgage advisor". Not really knowing any different as a first time buyer I went ahead and made contact with their person.
Anyway, after an appalling experience with their suggested advisor who clearly doesn't need to do any work to secure their clients and certainly wasn't interested in doing any advising I told them in no uncertain terms I would be using my own financial advisor. My advisor suggested the questionable legality of home builders forcing buyers to use their advisor.
Is this legal?
Anyway, after an appalling experience with their suggested advisor who clearly doesn't need to do any work to secure their clients and certainly wasn't interested in doing any advising I told them in no uncertain terms I would be using my own financial advisor. My advisor suggested the questionable legality of home builders forcing buyers to use their advisor.
Is this legal?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards