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I want to buy a house. And I'm at best and final offers (again). This time the EA is asking for the offer to be accompanied by a letter from my bank saying I'm good for the wonga. Problems are (1) what a preemptive little oik - previously I've just said "cash" and they've withered beneath my steely glare[1]; and (2) I can't get a letter from a bank as I don't keep more than £85k in any single bank and, besides, some of its in certificated shares.

I realise this is a Rich B@5tard problem. But why are they doing it - is it a symptom that mortgages are, at last, harder to come by?

My intention, btw, is to assure him that I have the loot and that my word should be better than that of bankster-scum.

[1] and then promptly flogged it to someone who's got something more valuable than cash - a willingness to take on stupendous levels of debt.

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I've had the same in the past. It shows how financially illiterate they are that the believe anyone with that sort of money would keep it all with one bank. I explained to the 22 year old dimwit (who condescendingly told me they her responsibility to her client was to ensure I was good for the money) that it would require me to get evidence and statements from several different sources, and that I wasn't prepared to give away my actual financial position to someone whose job is to secure the highest possible price for their vendor.

She didn't seem to understand that. So I asked to speak to her senior. She was equally condescending so I told her to f**k off. Quite honestly, if they behave in that way they aren't desperate enough for your cash, and you aren't going to get the deal you deserve for cash anyway.

I'm ******ed if I'm giving away my financial position to some spotty little tw4t who thinks a Mini Cooper and insane levels of mortgage debt make him the next Donald Trump.

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Incidentally, the agency involved here are the same ones that sent out this incisive informational email a couple of weeks ago:

It’s all in the Headline - Or Not !

I hope that you did not lose sleep when Nationwide announced the fall in house prices in February by 0.1%.

Reading their report they say that the annual increase slowed from 6.8% in January to 5.7% in February, a difference of 1.1% so not certain where the 0.1% comes from.

Also Nationwide say that their house price information is derived from “Nationwide lending data for properties at the post survey approval stage”. A fine bit of gobbledygook if I ever saw it. I think what they wanted to say was - after the mortgage offer is issued. The mortgage offer is issued some time after a property is first marketed and a sale/purchase price agreed. The data is historical and not in the here and now.

We have previously suggested a rise of 10% in local property values from the beginning of the year compared to the end of 2014. That figure is holding.

Yeah, I think I'll pass on giving you my financial info thanks. I doubt you'd understand it anyway.

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Estate agents should be regulated. When an offer is made and accepted to purchase a property, it should be legally binding. That would avoid the need for oily estate agents to push for proof you've got the dough. What if you prove you have the money and somebody else comes along with a higher offer, would they honour your bid?

Edited by Pindar

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Erm... when you buy a house you have to prove where the funds are coming from to the solicitor (money laundering regs), so just get a letter from them or tell the EA to call them!

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Erm... when you buy a house you have to prove where the funds are coming from to the solicitor (money laundering regs), so just get a letter from them or tell the EA to call them!

But I won't be instructing a solicitor until I've got a deal.

You do highlight another problem - how the hell do I satisfy AML requirements? I've got wonga all over the shop acquired through 20 years of saving and investing. But when being it all together with one solicitor it'll look like a scarily big sum that needs explaining.

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But I won't be instructing a solicitor until I've got a deal.

You do highlight another problem - how the hell do I satisfy AML requirements? I've got wonga all over the shop acquired through 20 years of saving and investing. But when being it all together with one solicitor it'll look like a scarily big sum that needs explaining.

No if it's accumulated over a long time you just say it's from earnings and investment income. Unless it's an implausible amount for your position you won't have any problem.

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I want to buy a house. And I'm at best and final offers (again). This time the EA is asking for the offer to be accompanied by a letter from my bank saying I'm good for the wonga. Problems are (1) what a preemptive little oik - previously I've just said "cash" and they've withered beneath my steely glare[1]; and (2) I can't get a letter from a bank as I don't keep more than £85k in any single bank and, besides, some of its in certificated shares.

I realise this is a Rich B@5tard problem. But why are they doing it - is it a symptom that mortgages are, at last, harder to come by?

My intention, btw, is to assure him that I have the loot and that my word should be better than that of bankster-scum.

[1] and then promptly flogged it to someone who's got something more valuable than cash - a willingness to take on stupendous levels of debt.

you could whack the amount you need into a National Savings Income Bond (which is Govt G'teed for the whole amount up to £1m) and allows instant withdrawals - this will allow you to print a statement off the internet which should be enough to keep EA happy.

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Are they refusing to put forward the offer unless accompanied by the letter? They would be breaking their contract with the seller if they did that.

Just make your offer directly to the seller and cut out the middleman. Then they can decide whether they want to pay the estate agent.

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It shows how financially illiterate they are that the believe anyone with that sort of money would keep it all with one bank.

why not do you feel they are going to go bust ?

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I helps to understand that EAs likely get all kinds of chancers walking through their doors making offers.

With one EA, I simply logged into a couple of bank accounts in their presence (having made sure there was no excess cash in them) to give them the general idea. I think cash only really appeals to the desperate seller though - and they likely want speed so having a conveyancer ready to go asap may help. I don't think the EA I ended up buying from actually asked at all.

The amount of cash will not be a problem for any conveyancer providing you can demonstrate it has been accumulated over time with a year's worth of bank statements - and an explanation where those sums are coming from (e.g. payslips, etc).

Edited by StainlessSteelCat

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But I won't be instructing a solicitor until I've got a deal.

You do highlight another problem - how the hell do I satisfy AML requirements? I've got wonga all over the shop acquired through 20 years of saving and investing. But when being it all together with one solicitor it'll look like a scarily big sum that needs explaining.

Get a mortgage in principle, use the agent's finanical advisor.

Then when it comes to payment tell them to do one and pay cash.

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Download a pdf of you recent bank statement then edit it in Adobe Acrobat pro, print and hand it to the little fker, it'll shut the little runt up for a while

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you could whack the amount you need into a National Savings Income Bond (which is Govt G'teed for the whole amount up to £1m) and allows instant withdrawals - this will allow you to print a statement off the internet which should be enough to keep EA happy.

Cart before horse.

If no house purchase happens, you could stand to lose significant amounts of money taking it out of investments to put lend it to the government. Why would you want to do that until you have at least a strong expectation - including an agreed offer - of buying the house?

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I want to buy a house. And I'm at best and final offers (again). This time the EA is asking for the offer to be accompanied by a letter from my bank saying I'm good for the wonga. Problems are (1) what a preemptive little oik - previously I've just said "cash" and they've withered beneath my steely glare[1]; and (2) I can't get a letter from a bank as I don't keep more than £85k in any single bank and, besides, some of its in certificated shares.

I realise this is a Rich B@5tard problem. But why are they doing it - is it a symptom that mortgages are, at last, harder to come by?

My intention, btw, is to assure him that I have the loot and that my word should be better than that of bankster-scum.

[1] and then promptly flogged it to someone who's got something more valuable than cash - a willingness to take on stupendous levels of debt.

Send them a letter, saying your offer is serious and cash based, and should be submitted to the seller. You are keeping a copy to provide to the seller so that in the event that the sale does not proceed, and the seller loses money in a later sale (i.e. has to sell for less), they can sue the estate agency for the loss.

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The only time you can use the leverage you have is at a time of crisis. At any other time, having cash in the bank or investments is handy, but if the mortgage tap is gushing, neither the seller or the EA gives a jot.

We bought at the back end of 2007 when the implications of the crisis were becoming clear. NR had gone bang, and it was all looking bad. We had viewed the house, put a low offer in and got outbid by someone offering 20% over asking. They ended up failing to get a mortgage. They tried again, we put in the same offer, other person was above asking and again binned out. EA came to us and tried to argue the offer up. My answer was "eff off, the offer is the offer, we're good for it, if you want your commission tomorrow, get the vendor to sell it to us, otherwise never talk to me again" - and I gave him 3 bank statements which summed to the required amount. We got the house.

IMO the steely glare is probably the best approach. Just look incredulous and say "what on earth would the bank know about my financial position?" Though, per above, I would hang on until we are back in full on crisis mode. They are asking because mortgages are harder to get, and there are loads of people out there kite flying with offers they can't back up.

Actually, it is probably your I3. The EA is thinking you have a gash car. :D Borrow a mate's Aston for your next viewing. It is staggering how many people make a financial judgement based on the car someone drives - without even asking if they own the damn thing....

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A lot of people lease their car. It is no longer an indication of wealth at all, but an indicator of debt in many cases. Perhaps this is what appeals to the thick oiks.

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They are doing it even thicko EAs have dawned that even the dumbest buyers have twigged that a 'cash buyer' gets attention.

There are a lot of really dumb buyers + EAs who think a provisional mortgage offer is cash.

Just write a letter saying you have cash, maybe put in a copy of a statement of less than the amount, set a deadline for exchanging and say you'd like a deposit from either seller and/or EA to pay out for if the sale is low.

Quick sales work both way - mess me around and I want a chunk of money off the sale.

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I want to buy a house. And I'm at best and final offers (again). This time the EA is asking for the offer to be accompanied by a letter from my bank saying I'm good for the wonga. Problems are (1) what a preemptive little oik - previously I've just said "cash" and they've withered beneath my steely glare[1]; and (2) I can't get a letter from a bank as I don't keep more than £85k in any single bank and, besides, some of its in certificated shares.

I realise this is a Rich B@5tard problem. But why are they doing it - is it a symptom that mortgages are, at last, harder to come by?

My intention, btw, is to assure him that I have the loot and that my word should be better than that of bankster-scum.

[1] and then promptly flogged it to someone who's got something more valuable than cash - a willingness to take on stupendous levels of debt.

1) Make offer.

2-) Offer not accepted

3) Revise offer if desperate otherwise jump to point 4)

4) If offer refused walk away otherwise jump to point 5)

5) Offer accepted, notify solicitor let him deal with the parasites.

Job done.

It's just a house.

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1) Make offer.

2-) Offer not accepted

3) Revise offer if desperate otherwise jump to point 4)

4) If offer refused walk away otherwise jump to point 5)

5) Offer accepted, notify solicitor let him deal with the parasites.

Job done.

It's just a house.

This is how got my offer acceppted. Took a week for esate agent to phone back and accepted offer

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The only time you can use the leverage you have is at a time of crisis. At any other time, having cash in the bank or investments is handy, but if the mortgage tap is gushing, neither the seller or the EA gives a jot.

We bought at the back end of 2007 when the implications of the crisis were becoming clear. NR had gone bang, and it was all looking bad. We had viewed the house, put a low offer in and got outbid by someone offering 20% over asking. They ended up failing to get a mortgage. They tried again, we put in the same offer, other person was above asking and again binned out. EA came to us and tried to argue the offer up. My answer was "eff off, the offer is the offer, we're good for it, if you want your commission tomorrow, get the vendor to sell it to us, otherwise never talk to me again" - and I gave him 3 bank statements which summed to the required amount. We got the house.

IMO the steely glare is probably the best approach. Just look incredulous and say "what on earth would the bank know about my financial position?" Though, per above, I would hang on until we are back in full on crisis mode. They are asking because mortgages are harder to get, and there are loads of people out there kite flying with offers they can't back up.

Actually, it is probably your I3. The EA is thinking you have a gash car. :D Borrow a mate's Aston for your next viewing. It is staggering how many people make a financial judgement based on the car someone drives - without even asking if they own the damn thing....

I recently got my offer accepted got 20k of the asking price by being hard nosed and refusing to be bullied by the estate agent in to offering more.

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