Using new builder broker and solicitor for incentives

Dumon_Kri

I'm looking at buying a new house on a new build site. I was offered free flooring throughout if I used their recommended mortgage broker and solicitor. The broker is fee free and I intend to ask him questions and compare him to the deals I've looked at myself. I also plan to phone a different broker to compare.

The solicitor seems reputable (I've looked on their website) but it all seems like a massive conflict of interest. Though it could save me money regarding the carpets etc. Though obviously that's dependant on the broker getting me the best deal!

Any one have experience with this and any advice? I wanted to get the house reserved tomorrow so we don't miss out. Thanks.

alchemist.1

Dumon_Kri wrote: »

I'm looking at buying a new house on a new build site. I was offered free flooring throughout if I used their recommended mortgage broker and solicitor. The broker is fee free and I intend to ask him questions and compare him to the deals I've looked at myself. I also plan to phone a different broker to compare.

The solicitor seems reputable (I've looked on their website) but it all seems like a massive conflict of interest. Though it could save me money regarding the carpets etc. Though obviously that's dependant on the broker getting me the best deal!

Any one have experience with this and any advice? I wanted to get the house reserved tomorrow so we don't miss out. Thanks.

As much as a anyone can try and be independent, if they are reliant on a big contract from a house builder, I'm not sure i would be 100% confident they would do everything they can for me. Professional conduct rules or not.

dgtazzman

Broker, wouldn't have an issue with, especially as they are fee free. If they can't find you a mortgage you are happy with, you are free to get your own.

Sols, that is a different matter. Have used a builder's recommended sols on a purchase a few years ago and I did at points get the impression communication was going on between the builder and the sols without me knowing about it, or at the very least, me being the last one to be informed about certain things and the sols being rather complacent to the builder's requests.

This time I'm buying a new build I got my own sols, and they really are far more on the ball, chasing the builder and their sols and clearly getting things sorted in my favor, rather than the builder's.

I'd tell them I'll use their MA, if I still get the free flooring, but you won't be using their recommended sols.

Dumon_Kri

Thank you both for your input.

I guess a big concern for me would be finding a new solicitor in time to get everything sorted. I'm just about to start a new job so I'll have little time to do so during the day. Also, obviously if they say no to just using MB and getting free flooring then I have the cost of 3 floors of a house to carpet and vinyl. It's a tough call for me.

dgtazzman

Flooring is maybe cheaper than you think, getting a 1400 sq ft house done completely (50-50 expensive carpet and mid-range quick-step laminate) for GBP 2500. Also doesn't take long to arrange a sols, email a few local ones or ones friends/family recommend and ask for quotes. You can instruct them over email, you'll probably just have to pop in at some point with your passport and proof of address.

Considering the builders will probably only be paying GBP 1000 - 1500 for the flooring, I don't see them pulling out over the sols. Wouldn't trust them if they did...

Dumon_Kri

Thanks.

That's still a fair bit of money (2500) for me but I think I could probably save enough in time to arrange for carpet and flooring to be fitted.

I'll approach the builders about using the MB and not using the solicitor (while still getting flooring) and see what happens.

House buying is quite the game!

[Deleted User]

Look around online for good quality carpet/Laminates and price check them. I am certain you could do it for less than £2,500. If you are buying a house, and plan to live in it, its worth spending a bit of time on things like this. You can leave it to the builders but will cost you so much more.