loveyourpostcode
Birmingham, B3
4.8/5, 411 reviews
96% recommended
98% sales valuation accuracy
95% sales fee satisfaction
86% lettings valuation accuracy
94% lettings fee satisfaction

“In buying a property from LYP estate agents, * in his ......”

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Apr 19,2019
Minithumbdown
By: 'Ahmad Askari'
Apr 19,2019
17 people found
this helpful
In buying a property from LYP estate agents, * in his email of 2 July 2018 wrote: "Following our conversation, i am pleased to advise, your revised offer of £130,000.00 ... is currently being considered by our Group." and "As there are other conditional offers on the table, in order for yourself to secure it, we will require a commitment fee of £2,500.00. This will allow us to mark the property 'sold stc' once your offer is formally accepted. This will come off the selling price." We were of course, very uneasy about paying this large sum of money to BS and did our level best to get some clarification in writing on the terms of this fee from him and his sales team, but we failed.


By his sentence "This will come off the selling price", we understood and trusted that the money will go to our seller at some point. We therefore assumed that our seller must have been fully aware and consented to this arrangement and decided to pay it despite BS's vagueness and our own and our solicitor's reservations.


As was promised, LYP marked the property "sold stc" in their website. However, we were rather surprised to see that the final selling price was given as £127.5K and not the full £130K. Our solicitor in her email of 5 July 2018 to us wrote: "The sale memorandum received from the agents stated the agreed price of £127,500." We assumed therefore, that the £2.5K must have gone to our seller. To clarify this, our solicitor emailed BS on 10 July 2018 stating: "Our clients have informed us that they have paid £2500 in form of a commitment fee, which was to be passed onto the sellers of the property. Please confirm this has taken place?" In response BS wrote: "Dear xxxxxx, Which ever is easiest for you. It makes no difference to my client. Terms of commitment fee are clear and understood by buyer & seller." We were not given any "terms of commitment fee" at any stage of this process. Neither us nor our solicitor therefore, understood what this meant!


After almost five weeks, our mortgage was declined, and we reluctantly withdrew our offer. We asked BS to refund our money, but he refused to do so at first. After several weeks however, he in his email of 21 August 2018 wrote: "I am happy to provide 50% back as a genuine misunderstand on your part in accepting our terms and a gesture of goodwill on loveyourpostcode.com® part. If this is acceptable on your part and you understand that the 50% being retained by loveyourpostcode.com® does not come close to the administration cost in reintroducing the property back to the open market we will close the matter this week." At this point it became clear that the commitment fee paid to him in good faith and on the sole understanding that it will go to our seller, has indeed been kept by him. I of course, refused to accept his offer.


There is at least one other evidence that supports the view that sellers generally were not aware of the fact that the "buyer's fee" or "commitment fee" was "coming off the selling price".


Update 19/04/19: This matter was sent to the Trading Standards sometime ago. Received an update from the Trading Standards on 17/4/19, which says: "The National Estate Agency Team have approached us for formal permission to investigate the estate agent and this has been granted. ...... they will have to gather a significant amount of evidence as the investigation is ...... rather than restricted to your complaint."

LYP is now on most consumer protection agencies' radar, I have made sure of that. Rest assured that I will see this matter through, irrespective of the time it's going to take.
Comment on agent fees
I appears that apart from the agreed commission, sellers are effectively charged an additional commission without their consent.
Was this helpful? Yes
By: Ahmad Askari
Aug 01, 2019
The property ombudsman could NOT look at my case in FULL, because it fell outside their remit. Their website states clearly that they will not look at any complaints alleging fraud. They, however, in their wisdom decided, to look at the contract side, which was not at all a part of my original complaint. So, I am not sure the value of their verdict. This is certainly not a “not guilty” verdict you are after.
My case against the company was deemed serious enough to be picked up by the Trading Standards. As you may know, they take their time but eventually complete their task.
By: Kate
Aug 01, 2019
Dear Ahmed, The conclusion was drawn by the PRS Scheme on 12 November 2018. You unfortunately lost.

Case Reference Number: PRSC102337

The property ombudsman agreed in our favour and you subsequently when on to challenge their decision on several occasions. You failed on each occasion and went on to amend your review on more than twenty occasions on many platforms. Our solicitors did consider to do you for slander and defamation such was the seriousness of your allegations. However, you changed your reviews and took the correct action.

Our products are market leaders in the property industry and our reputation both on and offline speaks volumes. You had the confidence to put down £2,500.00 and commit to purchasing Topsham Road , Smethwick having read our full terms and conditions of business. You went on to retracting your offer after four weeks and blamed this on the mortgage lending market.

Options were provided to yourself and your daughter, you failed to take action and subsequently withdrew your interest. This resulted in your self losing your commitment fee. This fee went on to covering our costs. As a gesture of goodwill the Group director did offer you a 50% refund at Eid, rather than escalating matters and instructing solicitors. You declined his kind gesture and instead challenged him

. At this point the #bemorelion instinct came into play for Mr Singh. Love Your Postcode went to spending a lot more than £3,500.00 in legal costs to win the legal argument and set another precedent for 'commitment fee'

Just for the record i suggest you take a read of the below article. It will help put your mind at rest that we were telling the truth about being ahead of the market and introducing products that will become the norm in the future.

https://www.estateagenttoday.co.uk/breaking-news/2019/1/reservation-agreements-set-to-become-part-of-the-home-buying-process?source=trending

On a final note, there is no legal defence for not reading and understanding your contract. Especially when you have so many letters behind your name inc Dr. Sent on behalf of Bobby Singh. Esq

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Opening Hours
Address

loveyourpostcode
One Colmore Row
City Centre,Birmingham
West Midlands
B3 2BJ
0800 862 0871

Performance statistics
Services Valuation Accuracy Fees Satisfaction Min Price of property reviewed Max Price of property reviewed
Sales 98% 95% £60,000 £999,000
Lettings 86% 94% £295 £2,500
Review statistics
From Landlords From Tenants From Vendors From Buyers Other
71 4 224 5 61 1 18 2 20 5
Areas covered
  • Birmingham
  • Coventry
  • Solihull
  • Wolverhampton
Services offered
  • Sales
  • Lettings
  • Block Management
  • Surveys
  • Conveyancing
  • Mortgage Advice
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“Data la mia attuale esperienza presso questa ......”

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Data la mia attuale esperienza presso questa agenzia posso dire che sono stati davvero molto efficienti, mi sono trovata davvero bene. Team sempre pronto ad ascoltare ogni necessità del cliente. Translation by Google: Given my current experience at this agency I can say that they ...
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“Bobby is the most generous person I e ever co......”

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“The Finest Estate Agent in Birmingham...”

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“Quick sale and overall good service...”

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“Excellent service from a professional estate ......”

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“I have to say that my doubts about .......”

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“Great customer service...”

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“Fantastic team....”

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Minithumbup
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“Very fast and efficient service delivered in ......”

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Aug 30,2019
Minithumbup
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“Above and Beyond the call of duty.What a fa......”

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Aug 30,2019
Minithumbup
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“Love Your Postcode is the best estate agency ......”

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Aug 29,2019
Minithumbup
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Aug 29,2019
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“Any problems with maintenance issues have bee......”

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Aug 29,2019
Minithumbup
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Aug 29,2019
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“The guys at Loveyourpostcode are just great t......”

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Aug 29,2019
Minithumbup
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Aug 29,2019
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The guys at Loveyourpostcode are just great to deal with, very professional and refreshing, I happy to recommend and use again....
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“Highly recommend...”

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Aug 29,2019
Minithumbup
Sukhi
Iqpal
By: 'Georgeta Dima'
Aug 29,2019
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I was A tenant for over 5 years with Love your Poste Code and I always find their services to be highly profesional , fast responsive, and fair....
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“Great professional sales team who are willing......”

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Aug 29,2019
Minithumbup
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By: 'Daniel'
Aug 29,2019
0 people found
this helpful
Great professional sales team who are willing to go the extra mile ... always someone offering a helping hand .. I have tried other agents in the past however LYP has really changed my opinion of estate agency and helped with a smooth sale . Bobby Singh you ...
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“Great experience with. Helpful advice and g......”

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Aug 29,2019
Minithumbup
By: 'Pala Rai'
Aug 29,2019
2 people found
this helpful
Great experience with. Helpful advice and good service all round easy. And simple and not the confusing with a smile...
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“After instructing another agent initially to ......”

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Aug 29,2019
Minithumbup
Bobby
By: 'josh brierley'
Aug 29,2019
0 people found
this helpful
After instructing another agent initially to sell my house, things started to tail off quite quickly with viewings dropping off and communication with the agent going stale, so I decided to look at other options. I kept noticing Bobby Singh and the LYP brand in ...
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No fees information available
Kindly note that legally, letting agents need to publish information about their tenancy fees, government-approved redress schemes and client money protection schemes on their website and on third party websites (on which agents are listed). For properties to lease/rent in England, agents need to keep this information up to date and precise on allAgents or specify within the property description.

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Last updated at 10:39 AM 11/09/2018 by Guy Vaughan

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