Why would my broker do this...

annetheman

Thrugelmir said:

I doubt that the property is going to sold to anyone else soon for very obvious reasons. 

This is what's confusing me even more, both the EA and the broker say the developer will not accept any lower and the properties are very popular and will go, hence my anxiety. But I agree, I just don't see anyone coming in with another offer right now, especially as it has been taken off market and solicitor's ready to go, mortgage ready to go, no chain etc.

Every indication is that the prices will go down, and this is high-priced 2 bed (£355K for a flat, albeit south east but NOT London) and it will be harder to borrow in the very near future (even now).

Why would they say that I won't get it cheaper and it will go any second if it wasn't true, though?

lspell1

Lenders are tightening criteria, pulling products left right and centre. Also, 95% LTV Shared ownership?
There will be a limited number of lenders available to you anyway.
In case you still thought it was commission related. It definitely isn't as Leeds pays the same as everyone else.

annetheman

lspell1 said:

Lenders are tightening criteria, pulling products left right and centre. Also, 95% LTV Shared ownership?
There will be a limited number of lenders available to you anyway.
In case you still thought it was commission related. It definitely isn't as Leeds pays the same as everyone else.

There were more than 20 when my broker checked at the beginning of March and you only need 1. Hence, again, my confusion - why don't we just go to someone else? He hasn't even tried. But again, I trust him and besides I have the mortgage offer anyway so I can only hope the developer'll accept a lower amount as prices crash and sales freeze.

lspell1

The market has changed significantly since the beginning of march though. Ask your Mortgage Broker the question if you trust him. He might be able to give a simple answer. You're the customer, there's nothing wrong with questioning them to make sure you fully understand the reason for there recommendation.

annetheman

lspell1 said:

The market has changed significantly since the beginning of march though. Ask your Mortgage Broker the question if you trust him. He might be able to give a simple answer. You're the customer, there's nothing wrong with questioning them to make sure you fully understand the reason for there recommendation.

So I have argued exactly that. Now it's in the HA's hands to accept a lower %age offer - looking like it all might be okay!