Decisions In Principle

[Angelnurse]

Ok so I've found a mortgage company with a fantastic offer for my situation but they don't do decisions in principle. The estate agents won't let me put an offer in on the house without a decision in principle so what am I supposed to do?

[woofgang]

find another mortgage company.

[Buenchico]

Point out to the estate agent that he/she has a duty to his/her client to forward all offers to the vendor (although he/she can, of course, explain to the vendor any problems that they might foresee with particular offers).

If you can't persuade the agent to forward your offer, then try to contact the vendor directly to explain your problem and make your offer. (That won't be difficult if the vendor is still living in the house you want to buy!). While the vendor will be contractually obliged to pay commission to the agent even if they sell other than through that agent, there can be nothing in the contract to prevent them from actually doing so.

[pretty_snowdrop]

Don't they give an agreement in principle at all or do they only give it after the survey/valuation has been completed?

[Angelnurse]

No decisions in principle at all apparently and they really are giving me the best rate so I'm reluctant to go elsewhere. Thank you Buenchico I'll definitely take your advice

[Old_Jim]

Make your offer directly to the vendor. If the agent isn't acting in his interests, he doesn't deserve his fee.

[granny grump]

Can you say which company Angel?

[Angelnurse]

Yes it's Leek United building society