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)
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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

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