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‘It is time to ban agents from selling services to both sides of a transaction’ – Star Letter 22/04/2022

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  • 22/04/2022
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‘It is time to ban agents from selling services to both sides of a transaction’ – Star Letter 22/04/2022
Each week Mortgage Solutions and its sister title Specialist Lending Solutions pick the top comments from our readers.

This week’s comment came in response to the feature: ‘Immoral’ estate agent sponsored advisers are bad for everyone ‒ JLM Mortgage Services 

Arron said: “It is time to ban agents from selling services to both sides of a transaction, as it has muddied who is their customer and whose interests are primary. 

“Inflated legal fees are now becoming the norm with £500 referral fees. Together with compelled mortgage advice, none of this serves consumer interests or protection.” 

Darryl Dhoffer added: “I pre-arm my clients who are looking to buy with the following – and it does seem to work with some agents: ‘The Estate Agents Act 1979 states that every offer must be put forward to the seller regardless of whether the buyer has obtained their mortgage from the broker recommended by the estate agent’.” 

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