Estate agents now knows my affordability...

Thrugelmir

Fackers wrote: »

it’s in my mind that they have likely poked a stick to get an idea or know exactly what my limit is.

Your limit is what you set it at. Nothing to do with how much you can potentially borrow/afford.

pinkteapot

Completely agree with Thrugelmir. Our last couple of houses have been bought below our hard limit on what we can afford. Agents knew that. What you're prepared to pay for a house is unrelated to how much you can afford. In fact, I'd rather be negotiating based on "This house is worth £x to us based on what else is on the market so that's our offer." than "I'm really sorry but we can only afford £x so that's our offer."

In addition, if I were selling I'd rather sell to someone with more cash to spare than to someone at the very limit of their affordability (given the choice, and most of the time you don't know this information about a buyer). If someone's borrowing at their limit the bank will be scrutinising the valuation much more closely.

prowla

You don't have to justify your offer if/when you make it.
Simply say "that's the limit of my offer" instead of "that's the limit of my affordability".

Jumblebumble

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.....

How does anyone know that you are not considering other mortgages that will not lend as much but have a lower interest rate?
Perhaps you could hint to the estate agent that this is the case
The affordability under one set of circumstances is in my view irrelevant and in no way are you on the back foot

kingstreet

Fackers wrote: »

No details from me, I’ve not given any affordability or indication, just asked for a viewing, looked around and then she asked if I liked the property and wanted to make an offer... So I said that I will need to have a think and look over things. So she replied, yeah, because this house is within your affordability after chatting with MB... I didn’t twitch but noted it.

Right.

So, first/next question is to your broker, which is what I intended with the "EXACTLY" bit... thinking you would ask your broker before you replied on here...

"What did you tell them/her?"

Once you know that, the route from here is easier.

Fackers

Ok so the house had Sold STC for asking price which is bizarre as the 6 houses on the same street have all sold for £10-15k less. All same condition.

Anyway I’ve been outbid which is fine.

I then had a call from the mortgage adviser and NOT the estate agent to inform me of this and I questioned why the MA is calling me and not the EA and they responded to say that they are happy to help where needed. The whole thing is not sitting well with me and so I’d now prefer to not go through the MA for a mortgage. Can I have another MA or will it go against me in some way?

SusieT

I would check anything that was signed to check that no fees would be due and then ask them to delete the record and tell tham that due to them sharing personal information you will no longer be using their service. I doubt it would go against you since you did not have a mortgage applied for on an actual property, although others would confirm that.

diggingdude

If you do owe them money mention the data breach and see if they can make it go away

Fackers

SusieT wrote: »

I would check anything that was signed to check that no fees would be due and then ask them to delete the record and tell tham that due to them sharing personal information you will no longer be using their service. I doubt it would go against you since you did not have a mortgage applied for on an actual property, although others would confirm that.

diggingdude wrote: »

If you do owe them money mention the data breach and see if they can make it go away

I have checked and there is only a fee when the service is carried out - IE application for a mortgage (not MIP), and they offer ZERO refunds of their £550 fee should the mortgage not go through...


So best to move away?