Using EA mortgage broker?

mjane93

We put an offer in last night and I got a call of the estate agents MB asking about our relationship with our current MB and if we had already paid for his services and if we were interested in using his services instead. 

Is this a usual thing - FTB here. 

Do we have a better chance if we use their MB as the house we put an offer on has also already received a few offers and only had their first day of viewings yesterday. 

K_S

@mjane93

- Is it a usual thing? YES, unfortunately so

- No, it should make absolutely no difference to the chances of your offer being accepted, though (from experience) EAs are not averse to implying otherwise.

Just to be clear, I've nothing against EA brokers as such, they could well be as good/better than your current broker.

mjane93

@K_S
Ah okay thank you. We love the house and would hate to lose out on it but it doesn’t feel right switching brokers as our MB has been great so far. 

K_S

mjane93 said:

@K_S
Ah okay thank you. We love the house and would hate to lose out on it but it doesn’t feel right switching brokers as our MB has been great so far.

@mjane93 Glad to hear that!

lonibra

It makes no difference at all! Some estate agents (especially the London ones) can be super aggressive in trying to get you to use their MB so be on your guard.

You want to use a whole of market MB that you are happy with, and it seems you already have that.

SeanG79

My wife and I are looking for a property at the moment and in Greater London, EA's on the whole are awful and push hard on their Mortgage broker.

One EA even insisted I had to have a call with their MB to "qualify" our offer before they would present it to the offer to the buyer. They wouldnt accept my MB details to qualify and made it clear they would not present the offer without the call. Cue a 30 minute call where the MB tried to sell me on their services (which I politely refused). Our offer was eventually passed on to the seller but we were outbid even though we offered over asking...

With current property shortage and sellers market, EA's are having a field day...

ukri

30 minutes on a call even after you made it clear that you didn’t want to use them?!

That is excessive but not surprising as we're talking about Estate Agents here, the only link in the property buying chain that seem to have no regulations applying to them.