An Agreement in Principle is a simple way to find out if you can borrow the amount you need to buy or remortgage a house or flat, without a full credit check.
You’re not committing to anything and you’re not tied to a particular type of deal if you decide to apply for a mortgage with us. Just remember that an AiP isn’t a guarantee we’ll lend to you.
Assuming there’s no change to the details you’ve given us about your income, regular spending and any debts you might have, your AiP will last for 90 days. It’s a good idea to complete another AiP if any of those details or your circumstances change, as it could affect your AiP outcome.
AiP stands for ‘agreement in principle’ for a mortgage. Some lenders call it a mortgage in principle. It’s an indication that lenders could lend a specified amount, based on details you’ve provided about your income, spending and debts. If you decide to apply for a mortgage, we’ll ask you more detailed questions about your finances to see how much you can borrow. Then, with your consent, we’ll check your full credit history with credit reference agencies.
A mortgage in principle doesn’t affect your credit score’. Unlike making a mortgage application, we don’t run a full credit check on you for an Agreement in Principle. Instead we ask credit reference agencies to confirm whether certain details you enter on the AiP form match what they hold on your credit file. We don’t check your full history with credit reference agencies until you apply for a mortgage.
An AiP doesn’t guarantee you can get a mortgage, but it will give you an idea of whether lenders would be willing to lend the amount you need. If you apply for a mortgage, we’ll need to check your income, credit history and financial circumstances, and consider whether you can afford the mortgage payments both now and in the future.
We’ve helped over 10,000 people on the way to financing their home. Our powerful algorithm sorts through 27,000 mortgages from more than 70 lenders to find the perfect one for you. We combine this with top-tier mortgage expertise to deliver the most personalised, fast and convenient way to get a mortgage today.
We take care of everything, leaving you to relax and take comfort in the knowledge that you have the right product and you have received bespoke advice tailored to your circumstances.
