Agreement in principle

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hunt85
hunt85 Posts: 332 Forumite
First Anniversary Combo Breaker
in Mortgages & endowments
So I've seen with some lenders they do a full "hard" credit check when applying for an AIP (Nationwide)

Where as others specifically say "soft" credit check like Natwest and Lloyds etc..so if it is a soft check could i do an AIP with all those soft check lenders without it effecting my credit score?

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  • newbieFTB
    newbieFTB Posts: 120 Forumite
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    That's exactly what I did...

    I did an online AIP with Halifax to show that I was 'serious' when house hunting. Halifax is a soft search, not visible to any future lenders and has no impact on credit score.

    Once I'd had my offer accepted on a house I applied for a mortgage (via a broker) with Nationwide, this was a hard search for the AIP.
  • Lilla_D
    Lilla_D Posts: 359 Forumite
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    AIPs don't normally mean much beyond that you could potentially get a mortgage if your documents supported the details on the AIP and if the property was acceptable for the lender. There's nothing to gain from having multiple AIPs. One is more than enough for an estate agent as well to pacify them that you're a potentially good buyer.

    Once you have an offer accepted on a property, then the broker will consider your situation, the property and the then available rates before recommending a lender. And it may be one that was not previously considered.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ACG
    ACG Posts: 23,745 Forumite
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    Doing an AIP is barely worth the paper it is printed on, doing a softprint AIP is definitely not.

    Dont waste your time. You have an AIP, that is all you need.

    When the time comes to make an application, then check to see what is available to you or if you are using a broker have them do it.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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