Taylor Wimpey pushing "preferred" broker

rfyapbtl

We are FTBs with DIP/AIP with Nationwide.

When I spoke to Taylor Wimpey about putting a reservation deposit on one of their new builds, I was told they would not accept (!) my deposit until I had spoken to their preferred broker.

I said I have a relationship elsewhere and don't need this, but was told I would have to answer their profile questions about income & debt before they would accept my deposit.

They say this is standard procedure for new builds/FTBs, and that it does not involve a credit search. If it doesn't involve a credit search then what the heck is it about?

stalkah

We had to go through the same things, basically just so they can check the affordability works out. It's nothing about credit rating or checking.


Unfortunately it's one of those things either play along and do what they're asking or find another house, preferably not a new one as most builders do the same thing.


Ours was a 10 minute phone call (if that) literally gave details of income, debts (have none) and out goings, he then crunched the numbers and said it was affordable and was happy to approve us to Taylor Wimpey

libf

They want their broker to look over the numbers and make sure it checks out. I'm sure the broker will then encourage you to use his services, and if that's paid for by Taylor Wimpey then you really may as well use the broker, even if you end up going with Nationwide.

I've just done this with Barratt and ended up using the broker as he's paid for by Barratts and it means I won't have to do any chasing up with Nationwide myself on the mortgage front.

kingstreet

Newbuild is about control and having a broker and solicitor the builder knows will be able to bring the exchange and completion in on time is all they care about.

Big_John_246

Personally if they would not let me use my own broker I would walk away and find another property, I don't like being told what to do when you are the customer.

Kind Regards

John

betmunch

I have/had a client they tried this on. She spoke to the builders guy and politely declined, we all thought that was the end of it.

When she went to make an offer she was told she could only negotiate the price if she chose to use their broker. So using me could cost the client 1000s of pounds.

I told her not to lose the house over it and stood aside. She is fuming over it!

kingstreet

You have to be careful what you wish for.

We have eight cases where the build is behind schedule and we're having to either get refreshed valuation and revised offer, or do new applications.

We only get paid once, of course.

kingstreet

kingstreet wrote: »

You have to be careful what you wish for.

We have eight cases where the build is behind schedule and we're having to either get refreshed valuation and revised offer, or do new applications.

We only get paid once, of course.

... and one of the eight has a recent missed payment on the credit card issued by another member of the same group which now won't lend the same LTV.

Bu88er.