Help please. Pressured to get Estate Agents mortgage broker

janthemum

My son and daughter in law are buying their first house they are early 20s.

After looking at several in Birmingham they found one they loved and put an offer in as had a Halifax mortgage all sorted and ready to go.

Offer accepted and some mumblings they would prefer if they went through the Estae Agents Mortgage arranger.

They did go and see them but preferred Halifax as these were slightly more expensive. Nothing said at this point.

However house taken off market and they got a letter saying their off had been accepted.

They have a solicitor. Now 10 days after acceptance the hard sell on the Estate Agents mortgage arranger is happening. Estae agent telling them they cant have the house unless they go through their mortgage man.

Is this normal and what should they do as likely to lose house if they don't.

Many Thanks.

Rileybaby

They can't force them to go with their mortgage advisor. I'd say thank you but we have a mortgage in place and write an email to this effect ccing in the head office and asking them to confirm in writing under what basis the house sale will fall through if they don't use the in house mortgage advisor and I'd also ask (in a roundabout way) if the correct iwner is aware that any prospective purchasers of their home MUST arrange a mortgage through the broker.

hazyjo

https://forums.moneysavingexpert.com/discussion/5002320


https://forums.moneysavingexpert.com/discussion/4694745


There are loads of similar posts... can't stop as leaving work, but these should give them some ammunition.


NB presuming they haven't actually signed anything!


Jx

eddddy

janthemum wrote: »

Estae agent telling them they cant have the house unless they go through their mortgage man.

That would be breaking the Property Ombudsman's Code of Practice:

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.

Link: https://www.tpos.co.uk/images/documents/rules-codes-obligations/residential-estate-agents/TPOE27-6_Code_of_Practice_for_Residential_Estate_Agents_A4_-_effective_from_1_Oct_2016.pdf

So maybe refer the EA to the code of practice.

sparky130a

janthemum wrote: »

.

They have a solicitor. Now 10 days after acceptance the hard sell on the Estate Agents mortgage arranger is happening. Estae agent telling them they cant have the house unless they go through their mortgage man.

Is this normal and what should they do as likely to lose house if they don't.

Many Thanks.

If you want to PM me i will quite happily tell this EA where he can go. And quote why.

How dare they.

It's not normal. It's a p155 take. Utterly unacceptable.

Guest101

Learn to say no?

janthemum

Thanks everyone.

Really helpful advice there.

Guest 101..... looks like they will be saying No. The fear was they wouldn't let them proceed with house.

sparky130a

Guest101 wrote: »

Learn to say no?

Zammo did.... Or did he....

streetlovin

janthemum wrote: »

Thanks everyone.

Really helpful advice there.

Guest 101..... looks like they will be saying No. The fear was they wouldn't let them proceed with house.

I would just refer them to what edddy put in the post above. It is breaking the code. Ask to speak to the owner and see if they are aware of it. If I was a seller, I couldn't care less what mortgage advisor my buyer uses as long as I sell my property at the price I wanted. It seems the seller is probably happy with everything else that is why they are using this reason to make the most out of this purchase. Greedy basta*ds.

I had similar issues with Estate Agents before. I asked to view the property and they just kept telling me to meet their mortgage advisor first even though I already had a mortgage advisor lined up.

Oh well... I hope your kids get the property they want.

ACG

Also put a complaint in to trading standards.
People moan about this all the time, but then do nothing to stop it for others.

toc25

We are in the process of buying a house at the Moment and the same thing happened to us. They made us feel like we had to use them. I spoke to the estate agent who was selling our house and she told me that they aren't allowed to do that. She phoned them and told them that I don't need their mortgage advise and she would send them my mortgage agreement in principle and proof of deposit. That was it they left it alone then.

Just be firm with them.