The Property Ombudsman is advising would-be buyers, hoping to see a property registered with the Estate Agent are under no obligation to have an appointment with the Estate Agent’s Mortgage broker, according to a BBC report.
Karelia Scott-Daniels, Director of London Property Finders and Relocation Agents, Manse and Garret Property Search said “Not long ago, we were hunting for a buy-to-let in Camden for one of our Clients. Most Estate Agents were helpful and courteous and keen to persuade us their flats were perfect for our buyers. One agent was shirty, rude and seemed to go out of their way to make things difficult."
“During our first conversation I was categorically told that they wouldn’t show me any properties unless their mortgage broker could interview my Clients. We explained that their stance was illegal and not in the interests of their buyers, who presumably just want to sell their flats. After much guff and posturing from the Manager of the Estate Agent, we were able to show our Clients the properties concerned. Given that it took a 20 minute conversation for us to secure normal access, I wondered how First-time buyers without Property Search Agents like ourselves, were managing.”
“Anyone considering buying property should ensure they see a truly independent mortgage broker. In no other field would a buyer share so much personal information with someone they may end up negotiating with at a later date. The practice immediately puts the buyer in a compromised position.
“If every Estate Agent tried to push buyers into seeing their mortgage broker, making appointments to view property would take so long and be so dull, it would put everyone off buying property for life!”
“Buyers should not believe the excuse that the vendor only wants qualified buyers to look round. They can report the agent to the Property Ombudsman if they are put under undue pressure to have a mortgage consultation and threaten to go directly to the buyers if they can identify the property from information available. Side-stepping the agent all together may mean the vendor doesn’t have to pay the Agent a fee, in which case they may even be more amenable to compromising on price.”
Karelia Scott-Daniels added, “ I am sure all reputable Estate Agents would be keen for any move which reduces the number of disreputable Agents.”
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