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Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I have put an offer in on a flat, I have been told by the estate

Customer Question

I have put an offer in on a flat, I have been told by the estate agent that it is a good offer, but I'm unlikely to be successful unless I use their in-house mortgage broker.
I have a mortgage broker and a mortgage offer in principle with a lender I trust. I don't really want to start this process again. I've been flat-hunting for several months and the last sale went bad because of a problem with a lease that emerged the day before exchange; this lender has stuck with me and waived the arrangement fees from that application (which went to an offer), so I'd like to use them again if I can.
The Estate Agent have told me that "if someone comes in with a lower offer, but they use our broker, they could get the flat". They have presented this as something the vendor has asked for, because of a previous experience with a buyer whose finances fell through. I asked "is this a deal-breaker?" and they have said "yes, that's what I'm saying - yours is a good offer and you're in a good position, but this is a deal-breaker".
I don't like the sound of this, and wanted to check it out. Is this standard practice? or is the Estate Agent trying to force me to do more business with them?
Submitted: 2 years ago.
Category: Law
Expert:  Harris replied 2 years ago.
Hi, thanks for your question. I am a qualified solicitor.
This is very common place in the property market, however, you are not bound to use their mortgage broker.
The estate agent has a duty to put forward all offers to the seller. However, it could be the case that the estate agent has included a clause in the seller's contract that all buyer's undergo an affordability check by their in-house mortgage broker before offers are put forward to them.
It may therefore be best to undergo their broker's checks and if the offer is accepted for your mortgage provider to undertake the mortgage survey.