Estate Agent insists we use their Financial Advisor

jojorose

All the Estate Agent needs to see is your viability. They should have a staff member who does this. You dont need to see their Financial Advisor.

I would go and see the Vendor.....

[Deleted User]

I don't think the thread title is dramatic.

It appears they'd like you to see the financial advisor, so that they can find out, if there are more ways to make money off you.

I would go through with the complaints procedure.

Marvel1

How do you see their finanical advisor without giving anything away? Surely the EA wants proof you can afford the offer you are proposing to pass on.

m0bov

Go speak with the vendor, they are trying to get a kick back ontop of their fees.

do163600

This is one reason I would not use an EA that is also a mortgage provider to sell my house.

There is a high probability that they will be favouring offers from buyers that are sourcing their mortgage through them.

I ended up in court with the EA that I used to sell my last property, as they were acting a s mortgage brokers for my buyer and the clear conflict of interest cost me money and, possibly, better buyers/offers.

Having said that, it's probably best to go through the motions, having no intention of using their FA for your mortgage.

chappers

EAs have a legal obligation to pass on offers unless instructed otherwise.
I can guarantee that no vendor ever has instructed not to pass on offers under these circumstances. If I was a vendor and found this going on I would escalate it to the highest authority possible.

SG27

lewishardwick wrote: »

Had exactly the same thing.

Had a quick chat with their mortgage broker, advised that the broker I was using is a personal friend and not charging me any fees. They agreed they couldn't get a better deal and gave the nod to the estate agent.

5 minutes. All very polite and straight forward.

I had to see the EA mortgage broker, I told her the rate I had and she told me I was lying! That you couldn't get rates like that. I had to show her the website on my phone and she then told that actually very people get the top rate and that I should use her substantially worse products instead. Lots of awkward silences after I kept refusing. Total waste of my saturday afternoon.

BabyButton

Thanks everyone - I don't use this site very often so don't understand why the title of my thread is wrong?

The EA wanted us to go into their office to see their advisor and we refused as we had already visited another independent advisor twice and spent nearly 2 hours in his office both times with 2 young children who were bored (as we have nobody else to leave them with). I'd had enough & didn't want to go through this all again & explained that I could just email over the paperwork we already had.
This wasn't good enough & their advisor rang me 3 times at work to try and go through things, despite me explaining I was at work and didn't have the required information to hand & could she ring me back at a certain time when I would be able to go through it etc.
In the end, she told us she could do us an excellent rate on hers fees & they wouldn't be beaten - turns out our advisor was £200 cheaper and I told her that.

The offer we put in on the property was £10,000 less than asking price but then we were told somebody offered over it, so that was that.

chappers

Don't view anymore properties via them.

Willis12376

Our developer tried to do the same think. I used their advisor to do the affordability checks (just because it was quicker) then I jogged them on and used my own broker that didn't charge me a fee