First time buyer, very confused! Advice please...

zosephine

Hi there, I'm a 24 y/o first time buyer (buying with partner) whose head is spinning from all that is going on!

We put in an offer for the asking price on a property last Sunday, it was accepted on Monday.
We know vendors haven't even returned from holiday yet, so haven't started looking.
Estate agents have rung us twice to ask which solicitors we are using, obviously continually plugging theirs.
We have (somewhat daftly according to my family) set up an appointment with the EA mortgage advisor person for £50. I am probably going to cancel this based on research.
We have an AIP with two banks, one of which (Lloyds) we have met with.
My partner hasn't yet started his job, Lloyds are willing to do the mortgage based on his job offer letter and the salary on the advert (this is a bonus as some others wouldn't)

We basically have NO idea what we are doing and feel slightly pressured by the estate agents, as they refuse to progress until we can tell them which solicitor we are using.... The house is still technically up for sale on the website, although allegedly all viewings have been cancelled.

I'm just looking for some advice please. What is the best thing to do? I'd like a good overall deal, I don't want to fall for any tricks.

G_M

This is a big purchase - don't let anyone rush you.

And don't let the seller's estate agent (that's right, he's not your agent) pressure you into using a particular finacial adviser, surveyor, solicitor or anyone else.

Find/choose your own.

Solicitor. Ideally use one recommended by friend/family.

Otherwise on Monday walk down your local high street and go into 3 solicitors offices and ask to see a solicitor for a conveyancing quote. If you get palmed off with a secretary, move on. Find a solicitor who takes time to explain things and gives you a proper quote, in writing.

Choose the one of the 3 that you feel happiest with. Give their details to the agent.

While in the high street, visit your library and borrow (free) a book on house buying. This will answer all your Qs and guide you through the process.

Smodlet

FTB at 24 years old, congrats! You are probably an EA's wet dream, pity they are about to have a rude awakening because you have done the best thing and come to the forum for advice. I know from experience that G_M's advice is stellar on the subject of housing, certainly renting but buying as well.

For some reason some EAs seem to think they are in charge and in a position to boss people about, from reading threads similar to yours and from experience. Remember, you are the boss, not them. They are there to provide a service for which they are extremely well paid by the vendor. Do as G_M has suggested, maybe take a look in some other EAs' windows too, you might just see something else you're interested in viewing. If you are set on this property you can still keep your options open, maybe even hint to the EA that, if they continue to pressure you, you might just walk and will let the vendor know they were the reason for the lost sale... Just put the power back where it belongs, with you, but tactfully.

If you are certain this is the one you want, you may not want to rock the boat but keep in mind you are under no obligation whatsoever to use an EA's in-house solicitor/mortgage provider/hairdresser... and if your hearts are set on this property, you might want to let the EA know that your offer is conditional upon it being taken off the market and that you will be checking all the sites they use to ensure this has been done. Also, unless it's a new-build or still under guarantee, at the very least get a builder to go around the place with you, one who is recommended to you by friends/family or, ideally, get a surveyor to do a HomeBuyer's report.

With luck, LessonLearned will show up and give you some great advice, too (used to be an EA, did LL) Best of luck and let us know how you get on.

glasgowdan

You need a solicitor, they're probably pushing to make sure they're content that you're serious and have someone lined up to do your work for you. So just get a solicitor asap (i.e. on Monday) and let them know.

keith969

They were trying to charge *you* £50 for an appointment with their mortgage advisor??? Who, if they manage to convince you to take one of their recommended mortgages (not by any means likely to be the best deal for you), will get a big commission on the transaction? That says it all. Seek out the best solicitor, mortgage etc. YOU want based on your own research, and politely but firmly tell them where to go. Remember, they are working for the vendor and the faster they get a sale, the faster they pocket the fee.

marksoton

zosephine wrote: »

We have (somewhat daftly according to my family) set up an appointment with the EA mortgage advisor person for £50. I am probably going to cancel this based on research.
We have an AIP with two banks, one of which (Lloyds) we have met with.
My partner hasn't yet started his job, Lloyds are willing to do the mortgage based on his job offer letter

50 quid!!???? For what? The privilege of their time whilst trying to flog you an uncompetitive product?

And Lloyds are no better....

ajp1309

Go with recommendations for a solicitor or have a ring round your local ones get 3 quotes and go from there. You only have to instruct a solicitor most dont charge unless you complete but if they do any searches they will charge for these costs as they have to lay them out. (We were told not to give our solicitor any money till our mortgage was agreed no idea if that is right but thats what we are doing)

A good broker would not charge you an initial fee some do charge a fee for their services but this is only after you have had an initial meeting and agreed to their services.

jimbog

zosephine wrote: »

We have (somewhat daftly according to my family) set up an appointment with the EA mortgage advisor person for £50.

To clarify - who's giving who £50?

jimbog

If you find phone calls from the EA too much pressure ask for them to correspond with you by email

mildredalien

They do need to know what solicitors you are using, as they want to know that you are motivated and able to proceed (and you need a conveyancer/solicitor to do that generally). You don't have to see anyone that they recommend and most people would advise against it. I think we instructed a solicitor about 3 days after having our offer accepted, so I'd definitely try and get that sorted ASAP.

hazyjo

A lot of solicitors are busier on a Friday due to completions so just ring round today. As above, 3 quotes should be fine - and double check what they all include. Might be worth checking they are contactable by email. I found that extremely helpful.
Definitely get that done immediately - it's very off-putting for vendors if there's a delay and they start worrying about timewasters, or that it's going to take months (average is 12 weeks, so you don't really want it dragging on for even longer!).


I did as jimbog suggests with the last EAs I bought through. They literally had me in tears at one point. Felt like I was bashing my head on a brick wall trying to get an offer in/accepted. The partner I was dealing with was a total bully. In the end I said I could only communicate by email because of my work, and blocked their number (they still tried to call immediately despite what I'd said).


Good luck


Jx