Channel 4's Dispatches programme exposes in-house broker tactics

by Aaron Strutt

Nov 04 2013

Channel 4's Dispatches programme has exposed a number of estate agents and their in-house mortgage advisers for putting unnecessary pressure on customers to use their mortgage services. Unfortunately, they also offered to process a number of fraudulent mortgage applications.

In one example, an estate agent told an undercover reporter posing as a buyer, that they would not remove a property from the market until an agreement was in place to use their in-house mortgage adviser.

Another in-house mortgage broker suggested that he would be able to secure a buy-to-let mortgage for an undercover reporter, even though they were unable to meet any standard residential mortgage lenders acceptance criteria. He described the application as being "a bit naughty".

Jed Newton, a director at Trinity Financial, says: "We work with a number of leading estate agents and we are fully independent from them. We know that it is important to provide clients with the best possible mortgage advice. Once again, this programme highlights the importance of knowing there are no conflicts of interest between the broker and the estate agent."

November 4, 2013