Pressure from estate agents

rdchick

Hi guys

This morning we got an offer accepted on a house and everything is really exciting!

However they're putting pressure on us to use their mortgage advisor... Which costs £600 and apparently we 'have to use this advisor to have our offer accepted'. 

Is this right?! 

I am a first time buyer but my partner isn't. We are in touch with a free and recommended advisor and they're progressing quickly with our application so don't even need them... 

How can I tell them we aren't interested?! 

marcia_

 You are not obligated to use their advisor. Just their way of making money. 

 Just tell them thanks but no thanks that you already have an advisor. 

rdchick

It's not going to affect anything is it?! 

Ksw3

I had this recently. I turned down their offer of using their in house mortgage broker six times. Offer still put forward and accepted. 

UnderOffer

Have they said this in writing? Just reassure them you are progressing your mortgage with your preferred broker. 

rdchick

They said it over the phone... 

I've emailed to say thanks but no thanks!

Thanks everyone!

MaryNB

rdchick said:

They said it over the phone... 

I've emailed to say thanks but no thanks!

Thanks everyone!

If it's who I think it is they'll come back and say you have to meet with their financial advisor to check your funds, and it'll just be a sales pitch for their services and more pressure to use their mortgage advisor. I did the session (they didn't actually check my finances at all...), said "no thank you" and completed on my purchase a few months later. 

Although I wasn't told I had to use their advisor but I was told it would make my offer far more attractive. It was the only offer as far as I'm aware so they didn't have much choice. 

K_S

rdchick said:

Hi guys

This morning we got an offer accepted on a house and everything is really exciting!

However they're putting pressure on us to use their mortgage advisor... Which costs £600 and apparently we 'have to use this advisor to have our offer accepted'. 

Is this right?! 

I am a first time buyer but my partner isn't. We are in touch with a free and recommended advisor and they're progressing quickly with our application so don't even need them... 

How can I tell them we aren't interested?! 

This is absolute BS and a very common pressure tactic from certain EAs, especially when it comes to higher-value and new build properties.

Unfortunately, as a buyer there's nothing to gained by ticking off the agent, and often my clients are forced to go through the motions of an appointment while continually insisting that their finances are sorted and they have a broker.

If it makes you feel any better, when we last moved, even after telling the EA that I was a broker myself, I still had to speak to their advisor for him to 'qualify' me. A waste of everyone's time!

TheJP

This is an on sales tactic, no different to a certain sports retailer trying to sell you shoe spray when you buy a pair of shoes. Just politely decline and tell the you already have a broker. If they then refuse to continue then cite the relevant legislation forbidding them in doing so. All else fails a note through the sellers letter box will remedy any issues.

Megaross

Yeah screw that, they're trying to earn commission by getting you to use their mortgage advisor.

Most mortgage advisors don't charge, you're way better off with a well rated local advisor. They all get commission from the mortgage companies so they don't charge you a fee.

Sign of a crappy estate agent - they'll recommend any old company that pays them. It's how firms like DC Law get so much work despite being genuinely awful.

On general principle I would refuse, I would be highly suprised if the offer got rejected on that basis alone.

nicknameless

Connells I expect?