After a few months of chaos in the political arena, our Mortgage and Property world has altered beyond measure
The immediate output from this is increased mortgage interest rates and a slowdown in the housing market.
We are also seeing some other unwanted side effects, such as some Estate Agents resorting to the illegal practice of Conditional Selling.
Whilst I completely agree that when an offer to purchase is made, an Estate Agent has a duty to establish the customers’ financial ability to proceed, however, they should not insist, or suggest that it would “put them at an advantage,” if they see their in-house Mortgage Adviser to “verify” their position, or at a disadvantage if they decline to do so.
It is perfectly easy to validate any buyer’s situation, by simply asking them for an Agreement in Principle. This can be obtained from their chosen Mortgage Adviser or Lender. TFA (Trusted Financial Advice) offer free Agreements in Principle that have no impact on your credit file.
Often these are chain type Estate Agencies whose advisers are heavily targeted to sell. They frequently describe themselves as independent, when in fact they can only offer mortgages from a restricted panel of lenders, and sometimes only one protection insurance provider.
TFA’s advisers are as independent as it’s possible to be, for Mortgages and all personal protection insurance policies. We also offer alternative lending solutions such as Secured or Bridging Loans as well as Buy to Let, Later Life and a myriad of other more specialist mortgages.
Take a look at what our clients have to say in our Feefo and VouchedFor reviews.
Charly Higman
Mortgage and Protection Director
