Estate agents favouring the buyer who will arrange a mortgage through them?
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I am not sure if this is correct, could they benefit from this?
We have put in an offer at the full asking price, I know the other offer is at around 拢5000 lower than ours. I am tied in to a mortgage lender so cant change lenders, the other people will arrange a mortgage through the agents, and they seem to be getting ahead of us!
The agents say its because we are in an uncomfirmed chain, although the offer on our existing place is from a first time buyer. I have now thrown down the final test saying that I could get a bridging loan and be effectivley chain free, this has not helped that much either!!
So my question do you think this agent is trying to get a double comision out of the sale of the house and arranging the mortgage, do they do that, has it hapend to you??
Estate agents favouring the buyer who will arrange a mortgage through them?No, but of course you are correct that the firm can get commission from the Mortgage company....If you think there are underhand dealings then when things are complete, make a note of all conversations you had, and ask for a full copy of the file and if necessary you can go to the ombudsman.......Why not approach the sellers independently, this is not illegal, and tell them what your offer is...the estate agent should have notified them of your offer...why would they turn it down, they have no benefit from a mortgage company...it may be that the sellers do not know your exact circumstances...call and see them, and make sure they do.
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