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Estate agents now knows my affordability...

Fackers
Fackers Posts: 14 Forumite
in House buying, renting & selling
Hi,

I have in advance secured a MiP with an ‘independent’ mortgage broker, unique branding, stresses there is no affiliation or commission from the estate agents And is independently regulated etc BUT they do work out of a room at the back of the local estate agents.

I have now found a 3rd house and really like this one but noticed the EA’s are where the MB has an office, I am now prepared to make my first offer on this house. After discussing the house with the EA, she then dropped into conversation that after speaking with the MB that she’s aware of my financial situation and affordability...

Am I right in saying this would now reveal my affordability for this house and takes the wind out of my sails for any lower offers and negotiations? Are they allowed to find this out? and should I still go for it anyway? I feel like I’m now on the back foot?

Cheers in advance.
«13

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Yes you are now on the back foot. Pity you used an adviser so clearly linked to an EA.


    But the adviser really should not have revealed your personal data.....
  • El_Torro
    El_Torro Posts: 2,226 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    If you're going to make an offer on the house just offer what you think it's worth, as you would have done anyway. It doesn't really matter if you can afford more if you're not willing to pay more.
  • Declan1992
    Declan1992 Posts: 62 Forumite
    They shouldn’t of discussed this at all with them and I’m sure they are in breach of data protection for one.

    Secondly, make whatever offer you want. If they say no. Just go to your ceiling. If they still say no, there are plenty more bricks and mortar to go around
  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    It wouldn't matter if I had 10 million pounds in the bank, I still wouldn't offer more than I thought the property was worth...
  • Fackers
    Fackers Posts: 14 Forumite
    Thanks for swift responses. I have a limit and will be sticking to it. I had sourced this ‘independent’ MB before this house had come on the market and the 2 other houses were via other EA hence no doubt but now, of course, it’s in my mind that they have likely poked a stick to get an idea or know exactly what my limit is.
  • Fackers
    Fackers Posts: 14 Forumite
    G_M wrote: »
    Yes you are now on the back foot. Pity you used an adviser so clearly linked to an EA.


    But the adviser really should not have revealed your personal data.....


    Thanks!

    Congratulations on 50k posts too!:money:
  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 8 November 2019 at 10:36PM
    Fackers wrote: »
    Congratulations on 50k posts too!:money:
    Good spot. G_M can now officially be classed as an 'old codger' - if that doesn't appear under his username then I'll be very dissapointed....
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    It depends how far you wish to take this, I'd say there's been a gross breach of your personal data and you could raise quite a stink if you want.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Fackers wrote: »
    Am I right in saying this would now reveal my affordability for this house and takes the wind out of my sails for any lower offers and negotiations?
    No more than any other AiP does.

    Remember, just because you can afford £X doesn't mean you have to be willing to pay £X. You just have to be prepared to walk away if your offer isn't accepted.
  • Fackers
    Fackers Posts: 14 Forumite
    Not worth complaining anywhere surely?!
This discussion has been closed.
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