estate agents cant do this can they

dunstonh

The broker has to document affordability as they are taking on the liability for giving you advice. Halifax may say its affordable but lets say a year or two down the road when mortgage payments increase you can no longer afford it. Who are you going to blame? the Halifax or the adviser that advised you that you can take out this mortgage and afford it.

god knows why connells have to get involved they are not giving us the money

You employed them to give you advice.

payless

see http://www.oft.gov.uk/advice_and_resources/resource_base/market-studies/estate-agent-complaints

Leon_W

OK. Now I'm with you.

If you're not happy with Connells get another broker. Or if you are confident enough, go direct to a lender. You don't owe them anything and it is your right to chose whoever you want to arrange your mortgage.

SPANIEL36

i'm still confused!!!

jackie_neave

thanks,we will find out tomorrow what the situation is,

Ian_Griffiths_Halifax

From what I can see Connells aren't even doing the mortgage, it's Jackies original broker who is arranging it. Connells have simply decided them selves that she can't have the house due to affordability, or more likely, BECAUSE she wasn't doing the mortgage through them.

Very confusing though.

EDIT

Having read the first post again, I think her broker could get her a mortgage but she ended up going through the EA as they could get a better rate (questionable).

It now looks to me as if they may have had another offer come in from another buyer, which they've put to the vendor and now they know what Jackie can borrow they'll probably try and push her another property.

homer_j_3

SPANIEL36 wrote: »

i'm still confused!!!

me too

Its all a bit yeah but no but....

I hope you sort it out whatever it is you are wanting to sort out. If Andy Smith was about, he may be able to shed light on these practices as he has experience of this company.

That said, I cannot for one reason understand why an adviser would need to speak to their boss about affordability. Its either affordable or its not.

Gorgeous_George

Just sounds like the EA is looking for a higher offer from the OP have you considered renting it has less commas and is easier to spel.

GG

Tiddler_2

You have to remember that the Estate Agent is acting on behalf of the seller, and so there is always going to be the possibility of a conflict of interests in seeing the EA's mortgage adviser.

Before putting an offer forward to the seller, the EA does have an obligation to make sure you can get the mortgage amount needed - however, this can be just giving them a copy of a mortgage promise certificate. One thing I try to do if someone asks for a certificate is discuss with them what figure they want on it, up to the max figure available, explaining why it isn't always the best thing to let the EA know you can easily afford it!

UK007BullDog

LOL :rotfl: :rotfl: :rotfl:

I am so confused about this one that I cannot even be bothered to try to make some sense of it. If the posters cannot be bothered...... why should we?