Unable to view a property without an AIP

DRP

You can get an AIP in about 20 minutes online or on the phone.

But i guess the issue here is that you are showing your hand (ie. your budget) to the EA prior to making an offer...?

I agree with others, contact the seller directly. and cc: the agent (or not).

squeeks

I don't know, I don't think an AIP is worth that much. It only shows that a lender may lend you some money.

You could get an AIP for a tiny amount and claim you have a huge deposit. The estate agent would be none the wiser.

ruggedtoast

You can get one in about ten minutes online with the post office without having to do a credit check.

TrixA

Not exactly the same situation, but when we were looking we had one agent who insisted on knowing the size of our deposit before they would let us register with them to view properties. As a result we decided not to register with them. I would take the same attitude to an agent insisting on an AIP. The AIP is going to disclose the maximum you are likely to be able to borrow, which is potentially going to damage your negotiating position. I think you did the right thing putting a note through the seller's door.

AdrianC

DRP wrote: »

But i guess the issue here is that you are showing your hand (ie. your budget) to the EA prior to making an offer...?

Not at all. Just because you could borrow £x doesn't mean you're willing to pay £x for a particular property.

Kynthia

I didn't get an AIP when viewing. I had already got my finances in order, picked a solicitor, and met with a broker to discuss how much I could borrow at what rates. The broker told me that I didn't need an AIP until I found a property as rates were changing and he wouldn't know who to place me with until I was ready to go. Therefore I wasn't going to get one just to please some EA who should be experienced enough to recognise serious buyers.

AdrianC

Kynthia wrote: »

I didn't get an AIP when viewing. I had already got my finances in order, picked a solicitor, and met with a broker to discuss how much I could borrow at what rates. The broker told me that I didn't need an AIP until I found a property as rates were changing and he wouldn't know who to place me with until I was ready to go. Therefore I wasn't going to get one just to please some EA who should be experienced enough to recognise serious buyers.

Was the broker willing to put anything in writing to confirm that, in his professional opinion, a mortgage of £x would be no problem for you?

Or were you expecting the EA to take your word for it?

DRP

AdrianC wrote: »

Not at all. Just because you could borrow £x doesn't mean you're willing to pay £x for a particular property.

Of course.

I imagine a lot of buyer's will say to the EA "that's all i can afford" when making the offer - whether that's true or not.

It is all about negotiation and the buyer's hand has been weakened somewhat by the EA knowing their limit.

Zoology_Dragon

We used L&C and they gave us two AIPs, one for the lower end of our budget and one for the higher. That way we could show the most appropriate one to the EA without giving too much away. We didn't get one for what we could actually afford as we weren't looking at houses in that range.