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This Is Money Buyers Being Misled

You don't HAVE to use an estate agent's mortgage adviser

We’re in the press again this week. This time talking to This Is Money about conditional selling by some estate agents who our customers tell us are misleading consumers into buying products they do not necessarily want or need. And we were by no means alone in shining a light on these tactics. Thanks to Helen Crane for printing our comments. 

Rob Peters, principal at broker Simple Fast Mortgage, said agents employing these tactics were doing so under the guise of having to prove to the seller that the buyer could afford the property – even if the buyer had already obtained such evidence elsewhere.

‘Clearly, by the time a buyer gets to the estate agent, they’ve usually already checked they can get a mortgage and for how much,’ he said.

‘High volumes of feedback from both customers and brokers indicate some estate agents are refusing to accept confirmation or documents provided which evidence the buyer is “fit” to proceed, instead insisting they speak with their preferred in-house mortgage adviser.

‘The unfortunate result is that buyers are being misled into using services they would not have otherwise wanted or needed, with potential additional cost, in order to have their purchase offer put forward.’

Have you experienced conditional selling by an estate agent?

Read the full article here:

You don't HAVE to use an estate agent's mortgage adviser

We’re in the press again this week. This time talking to This Is Money about conditional selling by some estate agents who our customers tell us are misleading consumers into buying products they do not necessarily want or need. And we were by no means alone in shining a light on these tactics. Thanks to Helen Crane for printing our comments. 

Rob Peters, principal at broker Simple Fast Mortgage, said agents employing these tactics were doing so under the guise of having to prove to the seller that the buyer could afford the property – even if the buyer had already obtained such evidence elsewhere.

‘Clearly, by the time a buyer gets to the estate agent, they’ve usually already checked they can get a mortgage and for how much,’ he said.

‘High volumes of feedback from both customers and brokers indicate some estate agents are refusing to accept confirmation or documents provided which evidence the buyer is “fit” to proceed, instead insisting they speak with their preferred in-house mortgage adviser.

‘The unfortunate result is that buyers are being misled into using services they would not have otherwise wanted or needed, with potential additional cost, in order to have their purchase offer put forward.’

Have you experienced conditional selling by an estate agent?

Read the full article here:

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