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Agreement in principle

[Deleted User][Deleted User] Posts: 2,070
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in General Discussion #1
Hello,

I had an AIP about 18 months ago, that has now expired. My financial situation has improved anyway, i now have a 40% deposit, so i doubt obtaining a mortgage will be a problem.

Should i still get another AIP for when i put an offer in on a house? I'm a bit wary as i don't want unnecessary credit checks done, but if it's better for my offer i will get one.

Any advice, please?

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  • 3Sheets2TheWind3Sheets2TheWind Posts: 3,028
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    #2
    Assuming you are going to get your mortgage from the lender that gave you the AIP, I would just tell them you plan to put offers in of X without a new AIP and see what they say.

    An AIP is just a credit check based on what you say you earn etc and the bank don't verify anything. If nothing has changed since then in your situation and assuming the lending criteria for the bank hasn't changed, I don't see the point in another AIP.
  • [Deleted User][Deleted User] Posts: 2,070
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    #3
    3Sheets2TheWind wrote: »
    Assuming you are going to get your mortgage from the lender that gave you the AIP, I would just tell them you plan to put offers in of X without a new AIP and see what they say.

    An AIP is just a credit check based on what you say you earn etc and the bank don't verify anything. If nothing has changed since then in your situation and assuming the lending criteria for the bank hasn't changed, I don't see the point in another AIP.

    Thanks, i'm thinking the same. If anything, i'm in a better position now, so could do without another credit check.
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