When searching for your first or next home, often your estate agent will recommend that you speak with their own mortgage broker. Do you have to take up their offer?

Maybe not.

You choose who you want to do your mortgage. An estate agent has no right to say you have to deal with them solely. Ask them to put this in writing if they say this and see what happens.

An Estate Agent should not pass any information on to a Seller about the validity of your offer; the details of your finances; or how much you can borrow in the form of your mortgage - however on occasions some of this information has been disclosed.

The majority of Estate Agents are respectable, professional individuals however: -

• The estate agent works on behalf of the seller, not you! Their duty is to the seller, not you!
• Some estate agents ask you to sign contracts with them with unfair small print.
• Some may even be prepared to risk breaking the law to secure a sale.

Remember that an Estate Agent has a vested interest in properties being sold. Their income is
commission based which is determined by the contract that they have in place with the seller. As such this doesn't always guarantee that they will have your best interests at heart.

An estate agents job is to sell on behalf of their vendor. Their role is to pass any offer that they
receive on to the seller and come back with a Yes or No answer. They should not as sometimes happens, tell you that the client won't accept an offer of £X, but may accept an offer of £x if you increase your offer.

CCHL don't get a % of the cost you buy the house for which is why we give you the best tips to buy your property at the best price possible. Vendors receive substantial protection from legislation, buyers do not benefit from the same level of cover.

Estate Agents are not regulated, but they must:

• Use clear contract terms
• Communicate any offer within a reasonable amount of time. They cannot delay your offer
just because you don't want to use their mortgage services
• Disclose any financial interest they have in any property you are interested in
• Answer any direct questions accurately.
When dealing with Estate Agents ensure that you:
• Keep in regular contact as this will show that your interest in buying a property is serious and genuine
• Keep records of all conversations - who did you speak to, when and what was said?
• Receive a copy of any offer you make.