Be a "qualified" buyer?

G_M

Flashmanchop wrote: »

Just give them you AIP.

Job Jobbed. That's you qualified.

qualified and vulnerable to price presure.

Flashmanchop

G_M wrote: »

qualified and vulnerable to price presure.

Agree, however, the price could be blanked out, together with other sensitive information. But, how likely is an estate agent going to put forward an offer if they are not happy that someone can afford the house?

catch 22.

Flashmanchop

Also, if it is in the area where the OP is from, and thework needed is substantial, just because the op could get a mortgage of £450k,it doent mean that they are going to get bullied into buying it at that price.



Any offer would be able to be justified due to the workneeded, but, the OP may be up against local devleopers.



It would only be pressure in my eyes from an estate agent ifa bidding war started?

SamDunham

G_M wrote: »

Do not send or provide your financial details: thi can be used against you in any price negotiations.

Once they know exactly how much money you have available they can push you to increase the price.

A letter from your mortgage adviser or solicitor stating that 'my client has sufficient funds for this purchase'. Send it to the agent and send a copy to the seller too!

This ^
We fell into the trap of being pressured into seeing the in-house mortgage guy at the estate agent even though we already had an AIP. I'm convinced that we would have had our initial (lower)offer accepted if they didn't know we could afford more.

Loopy28

They're not part of the sequence group are they?

We had exactly the same issue with an EA who were part of that group and they did not pass on our offer as they said we weren't qualified. I offered to email my AIP as we were porting our mortgage but it was refused.

EAs are not allowed to insist you use their mortgage services. Yes they are within their rights to check that you are an eligible buyer but an AIP from your current broker should suffice.

I complained about them to the ombudsman as the code of practice clearly states they are not to do this.

The house I have an offer accepted on now is with a local EA and they were more than happy with my AIP and didn't insist I used any of their financial services, they offered but did not push it.

newbridge

I refused to go further when EA refused to even do a viewing before so called "qualifying". I tried another one; although did a viewing he's asking to do the same thing now before my offer can be accepted(or put forward to seller)!!

Loopy28

Do you have an existing AIP in place? If so then they can view this and qualify you.

persa

I was asked to provide an AIP and a snapshot of my savings (not the breakdown, just headline amount) to "qualify" me as apparently some people lie about the source of their deposit and take time to sell stocks/close bonds etc.

I wasn't happy, but buying in London, you don't get much of a say in things. The market is so fast.

strawberries1

I've had this problem with Bairstow Eves. Their estate agent insisted I see their mortgage adviser despite me having a DIP with L&C. The mortgage adviser tried to get me to a search that will leave a foot print on my credit profile and this just so I could view a property not even to make an offer.
I think MSE should start a campaign to the government to regulate estate agents. They're so cunning!

Guest101

strawberries1 wrote: »

I've had this problem with Bairstow Eves. Their estate agent insisted I see their mortgage adviser despite me having a DIP with L&C. The mortgage adviser tried to get me to a search that will leave a foot print on my credit profile and this just so I could view a property not even to make an offer.
I think MSE should start a campaign to the government to regulate estate agents. They're so cunning!

Offer, in writing, direct to the seller - explaining the agents are turning buyers away...