Online Agreement In Principle In Suffolk
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FAQ
Can a lender legally decline a mortgage after an Agreement in Principle has been granted? Yes, a lender can legally decline a mortgage even after granting an Agreement in Principle. The AIP is not a guarantee of mortgage approval – it's a preliminary assessment.
Unfortunately agreements in principle aren't really worth the paper they're written on even in the best of times. It's basically a lucky dip to whether you can find a lender after you find a property thats actually willing to lend given your financial circumstances and your property of choice.
You may be wondering why you should apply for an AIP instead of a mortgage straight away. The simple answer is that it's quicker and less effort to get a mortgage in principle. You can often get one in under an hour if there are no issues, and at most, it should take only a few days.
What's an Agreement in Principle? An AiP lets you know whether we'd be willing, in principle, to offer you a mortgage for a certain amount. It doesn't involve a hard credit check, so it won't affect your credit score.
You can get an MIP from a broker, lender, or even an estate agent's own broker. An MIP is the most basic check of what you can realistically borrow.
You can often get one in under an hour if there are no issues, and at most, it should take only a few days. This frees you up to go house hunting and puts you in a strong position to make an offer on a home you want.
It's quick and easy to apply for an AIP online. It should take about 15 minutes. We'll need to know details of your income and outgoings. You'll also need your addresses for the last 3 years. We'll do a soft credit check as part of the process. This won't affect your credit rating or your ability to borrow in the future.
You may be wondering why you should apply for an AIP instead of a mortgage straight away. The simple answer is that it's quicker and less effort to get a mortgage in principle. You can often get one in under an hour if there are no issues, and at most, it should take only a few days.
It's quick and easy to apply for an AIP online. It should take about 15 minutes. We'll need to know details of your income and outgoings. You'll also need your addresses for the last 3 years. We'll do a soft credit check as part of the process. This won't affect your credit rating or your ability to borrow in the future.