Estate agent won't inform vendor of our offer

Vampyr

They have no right to do this and have a legal obligation to pass on offers. If you have a decision in principle for a mortgage you should let them know this. If they still push, firmly tell them no and tell them you will make a complaint to the ombudsman. Make an offer in writing and follow up by post to the vendor's address.

takman

tchcreates wrote: »

I called the estate agent (Haart) and after answering some standard questions I was told that we had to "substantiate the offer" by making an appointment with their in-house mortgage broker.

I think it's fair enough you have to show that you have the funds to match you offer before they go to their client.

You don't need to wait until you see your broker the easiest way is to get an Agreement/Decision in principle online. This will only take 10 minutes to fill out a form and it only leaves a soft search on your credit file so won't affect any future applications. You will then have a document which shows you have the funds offered to you which would mean they take you much more seriously.

eddddy

In your position, I would just send an email to the agent - with your offer and position (e.g. FTB, mortgage arranged in principle with 10% deposit).

And say that if the offer is accepted, you will provide evidence of AIP and deposit.

You can also say that if the offer is accepted, you will talk to their mortgage broker to see if they can get you a better deal - but maybe change your mind about this if/when the offer is accepted.

Using email leaves an electronic paper trail, so I would be very surprised if they didn't pass your offer on to the seller.

steampowered

The estate agent's in-house adviser wants a kick-back. They get £500 or so, if they refer you to a bank for a mortgage.

That's why they try to insist on people speaking to their in-house broker. Its absolutely nothing to do with checking whether you are proceedable or not.

PhilE

This is yet another example of the disgusting service of some estate agents in this country.

Have a look at this.
https://www.gov.uk/buy-sell-your-home/estate-agents

'Estate agents must also treat buyers fairly. They must show any offers promptly and in writing to the person selling the house.'

Speak to the manager of the EA, and remind them of the above. Remind them of the date of your offer, and ask for the vendors response. If they haven't passed on your offer, they are in violation of the law.

Your solicitor should have reminded you of this, thats what your paying them for.

You don't have to use their mortgage service, tell them your not interested.

Back up any offers in future, with a signed letter.

You have to be assertive with EA's, don't let them push you around.

pinkshoes

Just go and see their mortgage advisor, but DO NOT give away any financial information.

Make it clear that you are only there because otherwise the EA refuses to pass the offer on, but you cannot give them any financial info as they work for the EA, and you were very clear you already had a mortgage in place.

tacticalbanjo

When we were in this situation we just gave the estate agent the details of my mortgage broker saying that we already had a trusted mortgage broker and we weren't looking for another one. This must be pretty usual because the mortgage broker told us to do this.

The EA phoned the broker who confirmed that they had assessed my finances and we would be able to get a mortgage to cover the offer we were making. The broker didn't divulge our max budget or anything like that.

We didn't get an AIP until we had an offer accepted but our mortgage broker had all our information ready to go well before we put any offers in so it was the work of moments to get that.

eddddy

It depends how much of a game you want to play.

The EA will earn commission from using their in-house mortgage advisor, and from using their recommended conveyancer.

So if you suggest that you will use them, if your is accepted - the EA is likely to push your offer harder.

You can then "change your mind" if the offer is accepted.

bap98189

ileven1225 wrote: »

it's a common practice to get an agreement in principle (AIP) from any bank and give to an estate agent when you put an offer. It won't take you long in the bank and it can be used for other offers afterwards. So do it tomorrow.

You can get one online from the Halifax (and probably other banks). It takes only a few minutes.

AnotherJoe

bap98189 wrote: »

You can get one online from the Halifax (and probably other banks). It takes only a few minutes.

Probably worthless then. You’d need something that’s been vetted by a third party to ensure that pay slips etc are genuine to avoid the EA telling the seller that this is meaningless.