Connells Estate Agents

[Rebchappers]

We are first time buyers.. saw a house on the internet (through connells website), rang the branch and arranged a viewing

 

Saw the house and decided we would like it, so put an offer in (through connells)

 

The seller accepted the offer (it was a repossesed house and the seller is a bank)

 

We went online and CHOSE a mortgage ourselves, applied online and got a Decision in Principle. We checked carefully and compared literally hundreds of different mortgages before we decided on Nationwide. Full application has now been done with Nationwide. We have chosen to use Nationwide to do the conveyancing side of it too, along with life insurance and buildings/contents (we did several quotes with different companies and Nationwide were the cheapest)

 

Connells telephoned and said we needed to go in to do a financial breakdown... i said that wouldnt be necessary, as we had already decided who we were going to have our mortgage with and had already applied. The next day, we got a letter from Connells saying an appointment had been booked for us in a few days time to go through a mortgage review. I recalled them and said that we would not be attending as our mortgage had already been sorted (as they had already been told)

 

I then receive a call from connells asking who out solicitor was and i explained that Nationwide would be handling our conveyancing for us. Connells also wanted to know who we had received financial advise from as the seller wanted to know?? My first question is... why does the seller want to know this? and do i have to tell them? ( i presume it is just connells trying to sell us something) and secondly... do i have to receive financial advise before taking a mortgage?

 

I should also add that i WAS a finacial adviser for 5 years and have passed relevant qualifications (CeFA) but left the industry last year... so i know how mortgages work, the risks associated and how to budget etc... There is no need for us to see a financial adviser. Im a bit worried now that the seller will not sell to us becuase we havent seen an adviser. Can they do this? My understanding is that it would be a non advised sale, and we are perfectly ok to chose which mortgage we want online. I understand that a broker may be able to get us something a bit cheaper, but we trust nationwide (the savings deposit is with them) and it was OUR choice to go to them. We know the risks and have budgeted properly.

 

Do they want this information because it was a repossessed house and it is a corporate seller? Surely the seller doesnt get involved in the finances of the buyer.. that is up to us to sort out, which is what we have done!!

[postggj]

connells

i hate them

 

three years ago i was buying a property from them, first time buyer,

they sort of insisted on doing mortage (sub prime) insurance, solicitors etc

paid over £1200 to be told vendor had pulled out

two weeks later found the property back on the market with a ten grand mark up, left me out of pocket

 

i know it does not answer your question but its prob commission /target driven

 

never again connells

[reallymadwoman]

My instinct is that Connells are frightened of losing their commission from not selling you your mortgage/insurance etc, and what financial advice you may or may not have received is none of theirs or the sellers business.

 

However if anyone wants to disagree, feel free as this is only my opinion.

[Rebchappers]

So if i call Connells and tell them that we CHOSE the mortgage ourselves and received no advice, this wont be detrimental towards us? I have already told them that Nationwide will be dealing with the legal side of it, so i presume this is sufficient? They can then just call the seller and advise them to contact Nationwide if they have any queries.... as it is a repossessed house, i understand that you have to exhange contracts within 28 days, so i dont want anything to hold us up... hence the reason we applied for the mortgage online within 24 hours of our offer being accepted

[Lula]

Have you tried to speak to the vendor personally? to see what their take on this is? I think it is just connells trying to coerce you into their "in house" mortgage and insurances. Which is very wrong.

[Enfieldian]

Don't bother trying to speak to the seller drectly. No seller is under any obligation to speak to you directly and the building society will have instructed the agents to handle the sale on their behalf.

 

From memory, Building Societies are quite stringent when it comes to requesting information from prospective purchasers and will instruct the agent to make all possible enquiries, including vetting the applicant (you) via their own mortgage consultant.

 

Having said that there is probably an element of the agent tyring to earn extra commision, however in my experience there were many occasions when purchasers claimed to have everything arranged when it was not the case.

 

A copy of your agreement in principle should suffice.

[Real Opinion]

Cross selling from hell - every agent seems to have a solution they are trying to force down your throat

[caro]

You appear to be posting on very old threads real opinion. Is there something specific you need help with?

[Real Opinion]

Hey Caro,

 

Was enjoying giving some further perspective on these conversations. I enjoy reading the threads and anyone else who stumbles on them might find my replys interesting and useful if they are in that situation.

 

Hope that is ok but let me know?