EA pushing us to use their inhouse mortgage advisor

LKRDN_Morgan

We're first time buyers using an independent mortgage broker who we are really happy with. We've got an agreement in principle from Santander.

Today I've contacted an EA to arrange a viewing on a house. They've said if we decide to put an offer in we have to first see their in house mortgage advisor. Is that normal practice? Obviously I've googled and can find loads about EA's pushing you to use their own mortgage people but wasn't sure when it comes to the offer stage?

Can I just refuse?

hazyjo

Yes, you can. They may tell you you'll be 'more favourable' or that the vendor has requested it - usually standard patter and lies.


Tell the vendor - they are probably unaware. Bear in mind they may for once know, so careful how you word it


I've never had to see one and have bought 7 houses, but then I'm quite firm about having my mortgage sorted (in principle).


Jx

sparky130a

LKRDN_Morgan wrote: »

We're first time buyers using an independent mortgage broker who we are really happy with.

Then that's the end of the conversation with the agent.

Be assertive and as Zammo from Grangehill got told, Just say NO.

hazyjo

sparky130a wrote: »

Then that's the end of the conversation with the agent.

Be assertive and as Zammo from Grangehill got told, Just say NO.

Haha I've quoted that before too!


Your mortgage provider can send them something to say you're good for the money (email/write/fax/smoke signal/whatever they so desire). End of conversation. What sort of deposit do you have? If they say they could find someone to lend you more, just be firm that it's not what you want and more about what you feel a house is worth to you - not what you can borrow to pay for it. You'd pay more for one and less for another.


Jx

LKRDN_Morgan

We have a 5% deposit which we've saved for. Not gifted or any help to buy scheme. The AIP is for £332,500. This house is on for £315,000.

We've got the viewing for next week. They were very pushy on the phone so when I see the EA face to face I'll be strong and say no!

sparky130a

hazyjo wrote: »

Haha I've quoted that before too!

So have I, in a previous life..

Though it presumes a certain age...

eddddy

Just agree for the moment. There's no benefit in becoming enemies with the EA. At worst, you might end up losing access to all the properties they are selling.

Strategies you can use include:

If you want to make an offer, do it in writing, and sound really enthusiastic about talking to their mortgage advisor. But say that you will do it after the offer is accepted.

Then, if the offer is accepted, change your mind about talking to their mortgage advisor.

brit1234

Report them for breaching their estate agent code or simply ask them to put this request in writing and get them to sign it. Bet they don't:D

gibson1

Don't ever let estate agents push you around. Politely and firmly state what your terms are, which from what you said are reasonable.

If they refuse to deal with you because of this, they are potentially in breach of their estate agents code. Give your offer in writing, and make sure that they have passed the offer on to the vendor, which by law they have to do unless the vendor has specifically stated that they do not wish to hear about offers below a certain amount.

When I was last buying a house, the EA decided that my offer was too little and failed to pass it on to the vendor. I insisted that they pass the offer on, and am now writing this from that same house.

Some EA's decide to become a law unto themselves, its a good idea to read up on buying a house and politely but firmly reminding the EA of their obligations along the way.

You do not have to use the EA's mortgage adviser.

G_M

Which scheme does the agent belong to?

* The Property Ombudsman
* Ombudsman Services Property
* Property Redress Scheme

Look up the relevant Code Of Practice and complain to the scheme.

eg the Property Ombudsman COP says:

9c By law you cannot make it a condition of passing on offers to
the seller that the buyer must use services offered by you or
another party. You must not discriminate, or threaten to
discriminate, against a buyer because that person declines to
accept that you will (directly or indirectly) provide related
services to them. Discrimination includes but is not limited to
the following:
• Failing to tell the seller of an offer to buy the property.
• Telling the seller of an offer less quickly than other offers
you have received.
• Misrepresenting the nature of the offer or that of rival offers.
• Giving details of properties for sale first to buyers who
have indicated they are prepared to let you provide services
to them.

9ja4life

I usually agree to speak to their mortgage person after my offer has been accepted. It seems to work. We have used an independent broker as well and I end up telling them, I've paid for a service and Iprefer to get my money's worth.