How Foxtons make sure a sale goes ahead

Over the past 20 years or so, foxtons have been very adept at making sure a sale goes through and doing the groundwork to ensure the buyer becomes a mortgage client as well.

When a property is taken on by Foxtons they assign at least one negotiator to market it, usually by saturation phoning. If they find an interested party they will then begin the process of manipulation by falsifying information -"we have already received an offer of ....." etc.

If a buyer is earmarked then their name is passed to Alexander Hall, the mortgage brokers which are part of the Foxtons group. The buyer is not aware their details have been passed on but a mortgage broker from AH will be busy talking to their "contacts" at banks and building societies to arrange a mortgage. If the mortgage is approved in principle then a surveyor will make contact to arrange a valuation. Not just any random surveyor. Foxtons have arranged it so that only valuers approved by Foxtons can value their properties so that they are not "down- valued". These valuers are provided with a "surveyors pack" with details of "comparable sales" which cannot be independently verified. Investigations into these alleged sales always reveal anomalies and blatant falsification.

Foxtons have created very close relationships with mortage personnel at banks and building societies who have relaxed their lending criteria to accommodate this reciprocal relationship.

 Much of the foregoing information will not surprise readers of this site but this info does merit being regurgitated frequently just to remind everbody what really happens when they pick up the phone or throw commonsense to the wind and walk through one of the dreaded green doors.

Ex Foxtons