Saturday, Nov 28, 2009

Shock new survey: EAs are cheating toads!

Times: Estate agents force buyers to use costly in-house mortgage deals

"Purchasers are losing thousands as agents use a hard sell to chase commissions. Estate agents are boosting profits by strong-arming potential buyers into using in-house mortgage services, leaving customers thousands of pounds worse off, an investigation by Times Money has discovered. Evidence has emerged that buyers are being pressured into taking additional services that earn agency staff commission payments".

Posted by alan @ 11:46 AM (962 views)
Add Comment
Report Article

2 Comments

1. paul said...

I think with the dearth of buyers, this problem hsould sort itself out.

However, what happens is that the banks take a view on the risk of overlending to the buyer in light of the weak housing market and estate agents (who are of course working for the seller, not the buyer) try to jack up the selling price by 'facilitating' a generous loan to the buyer, taking full advantage of the buyers' financial ignorance.

The FSA would be all over this, were they not permanently out to lunch of course.

Saturday, November 28, 2009 12:31PM Report Comment
 

2. Crunchy said...

In House mortgages=the estate agent illegally finding out what you earn and thus weakening your chance of a lower offer.

A silly thing to do!

Saturday, November 28, 2009 07:32PM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies