PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Estate agent requesting Proof of deposit/ mortgage agreement before offer accepted

Options
13»

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Refer the agent to The Property Ombudsman Code of Conduct:
    10b You must put all offers to your seller client even if the buyer
    has not been financially qualified at that stage.
  • It's none of the EAs business about the deposit.

    It may not be the EA who cares. It may be the vendor. Frankly it's quite reasonable to have some proof that you do indeed have the deposit you claim. It's fairly common to see tales of sales falling through or hitting road blocks as it turns out one member of the chain doesn't quite have their finances in the order one would like.

    As a vendor it's just prudent to ask for some kind of evidence before firmly committing to the offer. They're not asking for every last detail of your financial life, just for the EA to see a bank statement that shows the money is there. Alternatively if you don't want to show the EA a statement a letter from your solicitor or even mortgage broker confirming the amount should suffice.
  • Grenage
    Grenage Posts: 3,204 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I would never give the ea information that shows your max. They can see that after offer accepted, outer jog on.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.3K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.