Mortgage adviser bully

So listen to this....
A lot of you know my situation regarding the sale of my house. Two parties want the house. They both topped out on their final offers. We decided to probably go with the family rather than the investor as the investor just wants the money and there's no emotional attachment at all. Anyway, then we thought the first time buyers may have second thoughts at the last minute and back out whereas the investor really wants the house and wants to start the paperwork NOW which is good because we want to move as soon as we can. The investor also said he would secure the deal with a £5000 deposit as well as provide us with a list of references if we care to check on his credentials. Anyway so Friday night Frank and I were discussing it. We decided to think about it over the weekend. Well yesterday morning Frank went to work and our estate agent's mortgage adviser calls and tells me "Rebecca, you HAVE to make a decision NOW before both parties back out. You should go with the William's because we have more control of the situation because I'm arranging their mortgage." I asked how that has any more control over anything. He said the investor is handling his own finances and we won't know what he's doing or when. Basically what it comes down to is the mortgage adviser is pushing the other couple because they're arranging their mortgage from him and that's more money for him. The investor can do things quickly and secured the deal with the £5000 but the mortgage adviser still insisted on the William's. I told him Frank and I will decide later when he gets home from work and the mortgage adviser said "You NEED to make a decision NOW!" I was really shocked and said "Fine,call the William's then and tell them they have a deal." He was happy and said he already arranged to do their paperwork on Monday morning AFTER they viewed the house. I had no idea they were even coming! Nobody said a word to me! What if they look at the house again and decide to back out then we lost both parties! When Frank came home he was livid. He called the mortgage adviser on his mobile and left a message how pissed off he is for bullying his wife into making a decision. He also said it was illegal to be biased over one buyer simply because he's arranging the mortgage. He then said "you know what...you're too pushy... we're going with the investor! You can tell the William's that they lost the deal due to a pushy mortgage adviser!!"
In the end why was the mortgage adviser making the deals anyway? I would NEVER recommend Connells estate agents to anyone!

It sounds to me like the mortgage advisor has a conflict of interest here. How can he be advising the vendor AND the potential purchaser?

He just sells mortgages. I don't see how he can have anything to do with making deals! We already arranged our mortgage with him so he gets a cut of that. Now he wants our buyers mortgage too!

Yep Bully is the word I would use.

So did he tell the Williams?

I would certainly write a letter of complaint to Connells. Possibly there is an ombudmans or some such office of fair trading to also complain?

House buying/selling is stressful enough without that sort of crap.

Pebbles....very sorry to hear about the bully. Too much!

Hopefully everything will go smoothly from now on. Keep us posted! 

Yep Bully is the word I would use.

So did he tell the Williams?

I would certainly write a letter of complaint to Connells. Possibly there is an ombudmans or some such office of fair trading to also complain?

House buying/selling is stressful enough without that sort of crap.

He wasn't in the office today but my husband called and told one of the gals that worked there they better call the Williams and tell them the deal is off since they were supposed to be viewing the house again tomorrow morning. The gal apologised and said in the five years she has worked for CONNELLS she's never heard of anything like this. She said she'll call the Williams' and have the manager call me in the morning.

Pebbles....very sorry to hear about the bully. Too much!

Hopefully everything will go smoothly from now on. Keep us posted! 

Thanks Jules 

Hope it all works out.

maybe the manager might offer a peace pipe in the form of a percentage decrease on your mortgage if the Williams can have it. Who knows.

This sort of thing happens A LOT.

Pebbles, I've PM'd you.

Vicky

i'm sorry pebbles.  hopefully this will work out soon.

I'd love any other stories like this.  My boyfriend writes for a mortgage industry magazine and has been working on this story for a few weeks, and I'm sure he would be interested in any more case studies.

Vicky

Someone's gonna be famous..... 

Vicky

Yikes! I'm interested in knowing if the William's raised hell with the bully after they discovered they lost a deal because he was such a jerk! I suppose we'll never know.

We might find out the repercussions...I'll let you know Wednesday....


Vicky

We might find out the repercussions...I'll let you know Wednesday....


Vicky

Sweet!

Well for all who are interested I wrote a letter of complaint to our Estate agent.It's the first step before taking it to the Ombudsman office. This is the proper procedure.  They have three working days to acknowledge my letter as per the OFT Estate Agent code of practice and 15 working days to investigate/resolve the matter. So far this is day 2 and I haven't heard a peep from their office. I hope to hell they disregard my letter so I can go straight to the Ombudsman office and b*tch ahoy!

Thanks Vicky for having DB phone. He's going to send me a copy of the magazine on Monday!