Estate agents wants us to see a mortgage consultant

Mrstvo

We've put an offer in in a house which has been declined so have put a second offer in, the estate agent now says we need to come and see a mortgage consultant with bank statements and payslips to see we are serious buyers I've told them we've got a mortgage aip but they are saying it compulsory that we attend and that the seller wants to make sure we are genuine buyers.

I'm a bit unsure if this is true. Can someone please advise.

Thanks

HampshireH

It is usually free and an opportunity for them to push their services such as solicitors.

Can't see how attending the appt can do any harm. If it's what they require and you decline the seller may question your commitment.

Many estate agents do it

ACG

Probably not.

However, they do have a responsibility to vet the buyers beforehand. Most normal agents would accept an AIP, but many agents use their obligations as a sales tactic.

If you are happy with your AIP, hold your ground when you do go. You are under no obligation to use their broker and they are categorically not allowed to blackmail you/or more subtly hint that your offer is more likely to be accepted if you use their broker.

bikeman17

Avoid it if you, you probably end up wasting your time.

At the end I just did the telephone chat with the broker, they couldn't bear the quote then for some random reason after a second check their computer was able to match the offer. They will end up quoting extra charge for additional services, i.e no additional fees if u use their advice for remortgaging.

chappers

!!!!!!!! to that, why do you want to show your bank statements and payslips to someone working alongside the agent.
Tell them you are happy to prove your deposit and AIP via your solicitor.

Marvel1

Part of me would see them BUT as soon as they start suggesting mortgage companies and types - I would firmly point out this was not part of the discussion.

m0bov

Go speak to the vender and tell them your being blackmailed and will walk unless the ea backs down.

theartfullodger

Tell them yes, of course, if they show you - first - their bank statements and payslips to see if they are worthy financial advisers....

I'd not take financial advice from someone with overdraft, patchy income or questionable spending habits.. (i.e. not from most so called "IFA"s...)

JP1978

They are just after more commission - they get a kick back from the FA if you go through with a mortgage from them, hell, they may even get a referral fee.

You already have an AIP, tell them to ram it.

You and only you know your full buying power (your mortgage limit) - If you go to the EA's advisor, they will then know your limit and buying power. Quite a sneaky sales tactic.

And if they dont send on any offer you make, it will almost certainly be against the EA's ombudsman's code of conduct.