Reclaim mortgage broker fee from estate agent?
Smimsie
Forumite 10 Posts
Hi, hopefully this is the right place to ask...
I recently put an offer in on a house which was accepted by the vendor and the estate agent agreed to cease marketing the property. The estate agent asked for proof of funds / id which I provided. I then approached my mortgage broker with the estate agent confirmation of offer accepted, got a mortgage offer and paid the broker fee. The mortgage company arranged to send in their surveyor but at the last moment, the valuation was cancelled because the vendor had exchanged contracts with another buyer. It seems that the estate agent staff member had received my documents but done nothing further, the property was not taken off the market, another offer was made and accepted and I wasn't informed. Is there any way to get the estate agent to reimburse the £499 mortgage broker fee I've paid? Thanks for any insight.
I recently put an offer in on a house which was accepted by the vendor and the estate agent agreed to cease marketing the property. The estate agent asked for proof of funds / id which I provided. I then approached my mortgage broker with the estate agent confirmation of offer accepted, got a mortgage offer and paid the broker fee. The mortgage company arranged to send in their surveyor but at the last moment, the valuation was cancelled because the vendor had exchanged contracts with another buyer. It seems that the estate agent staff member had received my documents but done nothing further, the property was not taken off the market, another offer was made and accepted and I wasn't informed. Is there any way to get the estate agent to reimburse the £499 mortgage broker fee I've paid? Thanks for any insight.
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If the seller/agent want to keep marketing the property and sell to the first person who exchanged, they are legally permitted to do that. Of course as a buyer you are free to say that you won't be taking any action to progress the sale until the property is off the market.
Seems you were informed once another offer was accepted. Far too quick to have exchanged contracts.
The estate agent confirmed at the time that the vendor had agreed to take the property off the market. They also confirmed that contracts have been exchanged with the other buyer as the other buyer did not wait to have searches or survey completed. I only found out about this as my surveyor had their appointment cancelled and I had to call the estate agent to find out why. The offer went in a few weeks ago and I was not informed at all.
However, Citizens Advice might be able to help you take further steps. Don't give up because that is a lot of money to lose.
Here's a link - https://www.citizensadvice.org.uk/housing/moving-and-improving-your-home/problems-with-buying-and-selling-a-home/
Scroll down to "the buyer or seller has lost money because of the estate agent".
But also the estate agent received your offer but failed to process it. I think that in the first instance, I'd want to send them an invoice for the £499 paid to the broker in good faith as you believed a deal had been struck. I'd also enclose a copy of the estate agent's confirmation of offer accepted - that has now become a very important document.
I'd definitely not give up without a fight but Citizens Advice may be able to advise you further. I've often won refunds by being persistent when people have said, "give up, you won't win this one". As I said, £499 is a lot to lose just because an estate agent has been lazy and negligent.
Stashbuster - 2014 98/100 - 2015 175/200 - 2016 501 / 500 2017 - 200 / 500 2018 3 / 500
:T:T