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Connells featured on local BBC consumer show for 'forcing' buyer to use their broker.

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
86 replies 16.2K views
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  • rosie383rosie383 Forumite
    5K posts
    It's the first hour and a half if anyone wants to listen. Can't wait to hear what he was talking about at the end when he said there were some very interesting developments.
    For those who don't want to listen, JVS was furious with his EA when they were selling his property. He went away on holiday, very early morning flight, and the EA let people into his flat when it was a mess without his permission. To say he was mad is a huge understatement.
    Father Ted: Now concentrate this time, Dougal. These
    (he points to some plastic cows on the table) are very small; those (pointing at some cows out of the window) are far away...
    :D:D:D
  • ethankethank Forumite
    2.2K posts
    Holiday Haggler I've been Money Tipped!
    I don't want any Estate Agent in my financial affairs thank you very much!
  • WestminsterWestminster Forumite, Board Guide
    992 posts
    Part of the Furniture Savvy Shopper! I'm a Volunteer Board Guide Debt-free and Proud!
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    Incredible scale of the allegations - a very interesting radio show.

    We sold our property recently (which we purchased through the Thame branch of Connells in 2003) and never considered listing it with them. We then had marketing letters on 5 occasions since it went live on Rightmove trying to get us to put it with them.

    Fortunately we did instruct a great / honest (I know - how unusual) agent who sold us quickly.

    We had also tried to view a property listed by the Dunstable branch of Connells but they never returned my numerous messages - looks like I dodged a bullet!

    I wonder how many vendors are losing sales due to these (alleged) clowns.
    Hi. Martin has asked me to tell you I'm a Board Guide on the following boards: Mortgages & Endowments, Mortgage-Free Wannabe, House Buying, Renting & Selling, Small Biz & Charities' MoneySaving and Charities.

    I'm a volunteer to help the boards run smoothly, and I can move and merge posts on there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • kingstreetkingstreet Forumite
    36.3K posts
    Ninth Anniversary 10,000 Posts Photogenic I've helped Parliament
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    Although there are fewer and fewer about, I always choose a local traditional firm owned and managed by chartered surveyors.

    I worked for three estate agents as a mortgage advisor upto 2001 and all three were of this type and I saw none of the kind of behaviour you see today (and then TBH) from the corporates
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • katejokatejo Forumite
    3.3K posts
    Eighth Anniversary 1,000 Posts
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    I actually had a good experience with a mortgage advisor attached to an estate agent back in 2008 but i wasn't actually buying a property then, just switching mortgage deal. He told me of a really good tracker deal which I wouldn't have found on my own.
    That said, I would refuse to deal with any agent which tried to force their advisor on me. I would walk out (and perhaps contact the seller myself to ask if they were aware that this was going on).
  • Glover1862Glover1862 Forumite
    334 posts
    Fifth Anniversary 100 Posts
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    Ha ha funny this as I've purchased with Connells luton town centre, the mortgage adviser has been moved to Stopsley. In fairness I kind of knew that should I offer to take my mortgage and use thier solicitors they would put the offer forward with more enthusiasm, exactly that happened, morning after my offer was accepted and property taken off. I needed a mortgage anyway so didn't make a lot of differnce, however the service was rubbish, I knew more than them and basically would have been better doing it myself, but then I wouldn't have got the property. Knew the game and just played it, maybe not right but as mentioned needed mortgage and solicitor anyway, my offer was £4k off asking so probably saved more than the £500 paid them just had too put up with the hassle. The house would have sold in hours so worked out for me. I agree it is bad practice though.
  • We've had the same issue with our local branch. We tried to put an offer on a house just last week and they insisted we speak to their mortgage broker before they would even consider taking down the details. We had already had a mortgage in place (due to a previous sale falling through) and were good to go - my property had sold. They were rude and down right unprofessional. We told them numerous times our situation and they still insisted on 3 months payslips etc etc, I eventually had to tell them that it was our mortgage company that tells us if we can afford it not them. Whilst I appreciate financial checks when putting an offer on a property we could prove we had everything in place. If is wasn't for a house we loved I would've gone elsewhere and never touched them. After writing an email and speaking to a manager the next day, the offer was put forward, financial checks done, offer excepted ! I think we need to be a bit tough and not give in! Time is precious when it comes to buying a home.
  • works both ways, people offer on properties then cant afford the place ,offer on two mayb three places ,or even fail to apply for mortgages etc, at least if their qualified by the brooker they all know where they stand and mayb just mayb they might be able to produce a better deal.In house solicitors etc are another minefield.
    my bark is worse than my bite!!!!!!!!
  • kingstreetkingstreet Forumite
    36.3K posts
    Ninth Anniversary 10,000 Posts Photogenic I've helped Parliament
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    works both ways, people offer on properties then cant afford the place ,offer on two mayb three places ,or even fail to apply for mortgages etc, at least if their qualified by the brooker they all know where they stand and mayb just mayb they might be able to produce a better deal.In house solicitors etc are another minefield.
    It take two minutes to do a qualification over the phone.

    When I was an EA advisor, it was;-

    how much do you earn?

    how much deposit do you have?

    any existing credit commitments?

    any previous credit problems?

    do you have an agreement in principle?

    and that was it...
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • WestminsterWestminster Forumite, Board Guide
    992 posts
    Part of the Furniture Savvy Shopper! I'm a Volunteer Board Guide Debt-free and Proud!
    ✭✭✭
    works both ways, people offer on properties then cant afford the place ,offer on two mayb three places ,or even fail to apply for mortgages etc, at least if their qualified by the brooker they all know where they stand and mayb just mayb they might be able to produce a better deal.In house solicitors etc are another minefield.

    It does work both ways - but this particular organisation 'appears' to have institutional targets on getting bums on seats in front of the broker which far exceed the commission a given agent receives for the sale. To the extent that they would rather lose out on a sale than miss out on bullying someone into seeing their broker.

    On that radio show there was someone who phoned in who (allegedly) was a pure cash buyer and even offered their bank statement to prove it but the Connells agent (allegedly) insisted they had to have a mortgage, it could only come through their broker and they refused to submit the offer.
    Hi. Martin has asked me to tell you I'm a Board Guide on the following boards: Mortgages & Endowments, Mortgage-Free Wannabe, House Buying, Renting & Selling, Small Biz & Charities' MoneySaving and Charities.

    I'm a volunteer to help the boards run smoothly, and I can move and merge posts on there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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