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can estate agents insist we see thier IFA?

29 replies

oops · 16/05/2006 23:10

We are putting our flat on for sale with the estate agents who are selling the house we want to buy.

Today we made the final decision to go with this agent, so instructed them to sell the flat and we made an offer on the other house.

I can understand that they won't really entertain the offer until we are under offer, but we jsut want to show we are interested, but what I don't really understand is that the agent seems to think it is ok/going to happen that I meet their "IFA" to discuss whether or not we can afford it before they pass it onto the vendor
WTF?????
anyone else had to do this??

OP posts:
edam · 17/05/2006 21:45

Oh, and I bet their IFA is nothing of the sort. Not completely independent.

oops · 17/05/2006 22:15

edam, it is legal, apparently the vendor has signed the contract and in the contract is a request fro the estate agent to check the buyers' financial suitablity before an offer is submitted to the vendor.
so, they can ask if we are good for the mortgage. They feel that their IFA is the way to do this, but I have since found out that they should accet a letter from the PFA I have dealt with....

but how many other people just blithly do as they ask?

OP posts:
edam · 17/05/2006 22:36

Of course they can check if you are good for the mortgage, that's their job. But they are using this to trick people into meeting their IFA.

I still bet Trading Standards would be interested to hear that the agents are using what sounds like an innocuous term in this way.

And contact Which? - their estate agents campaign team would love to hear from you. which.co.uk or which.net should find them.

oops · 17/05/2006 22:38

i may well do that, edam, but first shall sell my flat and get the house bought if poss.

don't want to piss them off before we even put flat on market.
I would have gone without estate agent, but it seemd more sensible to use the agent who is selling the house- keeps them happy iyswim
(pond life that they are- Sad)
(obviously mn estate agents aren't pond life! Smile}

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