Estate agents want to see 3 months pay slips and bank statements?

ashp_2

Hi,

We are first time buyers and have just put in an offer on a house. The estate agent has requested we go in for an appointment and bring 3 months payslips and 3 months bank statements + proof of deposit + P60.

Is this normal? We are with a broker and have supplied the AIP certificate to the estate agent. It feels slightly intrusive that they are asking for this information. I can appreciate giving this information to a lender but seems weird that the estate agents are requesting this.

Thanks in advance

Lokolo

They most probably want you to see their inhouse broker. If you already have one, and supplied them with an AIP, I would just say "Thanks but no thanks."

ACG

Estate agents have an obligation to ensure you are good for the money, there is no defined way on how they do that but to ask for payslips and bank statements makes it look very much like you will be sat infront of their broker.

Has your offer been accepted? If so just crack on with the application by the time you get to see their broker your application will be in and underway.

ashp_2

Yeah the guy that emailed me the information is a mortgage broker for the estate agents. I want to say no but I also don't want to jeopardise us getting the property we really want. I have no interest in anything they are going to try and sell me.

Offer not accepted yet only put in this morning but our appointment with the estate agent is in 3 days.

ACG

You are under no obligation to use their broker, they may say something along the lines of "our client would prefer to sell to someone who is using our broker so we can manage it all" its usually a lie to try and scare people in to using their broker.

If they do say something along the lines of you must use their broker, knock on the vendors door and ask them if theyre aware of that stipulation.

dunstonh

As above, there are two reasons.
1 - to show you can afford it.
2 - to enable them to market their in-house adviser (who you should not use)

There is no requirement for you to bring that information in. You can give them the name of your broker and bring them the AIP if they want evidence. They have absolutely no need for those other things.

Not bringing those documents will not jeopardise the purchase. Use of their in-house broker does not give any advantage or preferential treatment. Any suggestion it does is lies and pure marketing.

ashp_2

Ok thanks, well hopefully they accept the offer then I can just start proceedings with our broker. I hate it when these people try and push stuff on you. When we viewed the house the guy seemed a bit persistent in trying to get us to speak to their broker.

ACG

Tell them your cousin is your broker.
I regularly see people who are scared to say no to seeing their broker for fear of losing the house. It is not uncommon and it is unfair really (both for you guys and brokers as we have to compete with companies who are in a position to blackmail), or as suggested ask your broker to deal with them.

Agents tend to know they can get away with being a bit more forceful with first time buyers. When they speak to brokers they tend to be a lot nicer.