Do I Have to use my Estate Agents in-house Mortgage Advisor?

When you are buying a home you do not need to go with the estate agency advisor. The agent may intimate that you may lose the property if you go with someone else but that is not the case. 

Obviously, the estate agents earn extra commission from you when you use their additional services. People do not like being “sold” to so here are some of the tactics to look out for: 

There are several other ways you can arrange a mortgage without using the Estate Agent. 

In this article, we will try to help first time buyers decide on who to use for their mortgage and also how to make sure you are receiving value for your money!

Do it Yourself Online 

Some people are confident using price comparison websites to get an idea of the rates available. Remember it’s important to take advice at some point in the process, buying a house is obviously a very big deal and it’s important you get it right. 

Here are some things to look out for if you want to have a go at applying online: 

Go to your own Bank 

You could arrange a mortgage directly with your Bank. Lots of people used to do this but not so much anymore. People’s trust in the advice they receive from Banks is much less than it used to be. Look out for: 

Find your own mortgage broker 

Some homebuyers are reluctant to hand over their financial details to an estate agent. They are worried that the vendor might find out what a strong financial position they are in and end up paying too much for the property. 

Some estate agents may initiate that their vendor would prefer you to arrange our mortgage in-house. This won’t be true – all the Vendor cares about is that you are in a financial position to proceed. 

Go and see a mortgage broker not connected to the estate agent and ask for an agreement in princple. You can then provide this document to the estate agent to prove you are in a “proceedable” position. You will also be asked to evidence your deposit and ID. 

Whether you looking for first time buyer, moving home or remortgage advice a good mortgage broker will guide you through the full process of buying a home and give you open and honest advice. Take up our offer for a free mortgage consultation and find an advisor you like and trust. 

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