Can estate agents ask for proof of funds? Why do estate agent ask so many questions?

So you are looking to buy a property and started contacting the estate agents that are selling the ones that catch your eye. In short, yes… estate agents can ask for proof of funds and it doesn’t stop there! “How are you looking to purchase? How much deposit do you have? Have you spoken to a financial adviser? Do you have an agreement in principle?” Etc..


You might feel frustrated, and you might feel the information they want is not relevant because you haven’t seen, nor offered on the property. The property market really doesn’t agree that the customer is always right, sadly!


From the estate agents prospective these questions are standard practice. They are trying to develop an understanding for the type of buyer you are. This is so that they can make sure the property you wish to view is within your budget. The key is to remember that the estate agents work for the vendor too. Most of the times they are required to make sure every viewer could be a potential buyer.

In our experience, to be in the strongest position you should have a conversation with a mortgage adviser before you start booking viewings. Truthfully this will avoid disappointment in case you fall in love with a house that you can’t afford. We have all been there!

How to get your offer accepted on a house I hear you ask

By arranging an appointment with a mortgage advisor. It will show the agents that you have done your research and will be more likely to be considered in a better position compared to someone who either didn’t want to disclose any information. The best offer is certainly from whom assess their finances in relation to their property search. Additional, let us prepare a Mortgage In Principle for you as proof!

Don’t fear bad credit holding you back

We have seen accounts of all shapes, sizes and complexity. We understand how personal this can be but it’s important to know that we have access to products that could put you in the position to make that offer!

You do not have use an estate agent’s mortgage advisor

Expect them to offer their in house financial services , after all they do make commission out of the appointments they book. Don’t let them fool you though, you don’t need speak to their adviser if you do not want to. Most importantly – you are not required to use in house financial services because they may not have the range of products available that a whole of market broker has! If an estate agent pressures the need to use in house services, this is simply illegal.

The simple solution? As long as at offer stage you don’t refuse to share the information regarding the deposit you will proceed with, the mortgage you need and your agreement in principle you will not have a problem.


Book your free financial consultation here for completely unbiased mortgage advice.

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