This article contains general information about the mortgage contract process in principle. I highly recommend that your first point of contact after reading this article is to go to a professional and independent mortgage broker like Niche Advice, who is preparing for your specific case and circumstances. You will also be able to give advice on the home buying process and the complete application processes. If you want to buy a property with a mortgage, a decision is in principle very advantageous. For example, an AIP: an agreement in principle (AIP) – also known as a decision-in-principle (DIP) or mortgage in principle (PMI) – is a written estimate or statement from a lender to say how much money they would lend you if you bought real estate. An agreement in principle does not guarantee that you will get a mortgage. This is simply the first step in sketching out what you can probably borrow and whether you are likely to be approved or not. Once you have your agreement in principle, you can look at real estate that falls within your specific price range; That is, the amount you could borrow, plus every deposit you might have saved. If you need a policy decision as soon as possible, apply and an advisor will call you back to arrange it for you. Your advisor can explain the process in more detail by understanding your current situation.

You may urgently need an AIP to secure real estate, or you may have refused a mortgage. Even if you just want to know how much you can borrow, our advisors can help. Even if you have good creditworthiness, this does not mean that in principle a decision will be guaranteed. This is because lenders all have their own criteria. Other criteria can be income details, the nature of employment, the type of mortgage and the amount of deposits, as well as many other variables. A credit check is only one part of your mortgage appraiser. An Agreement-in-Principle (AIP) is provided by your chosen lender to show that they could in principle give you a mortgage up to a certain amount. A mortgage is in principle an official estimate from a lender of how much you can afford to borrow a mortgage. This can be a very useful thing if you are looking for a first home (or a second property), as it shows the real estate agent that you are a serious buyer and that every offer you make is realistic. The purpose of an agreement in principle is to give the lender an initial and timely guarantee of its willingness to lend.

It is about communicating solid facts about the applicant`s personal circumstances. Getting a mortgage in principle is usually the first indication that you`ll likely get a mortgage…