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  • FIRST POST
    • Oakdene
    • By Oakdene 18th Apr 17, 2:29 PM
    • 1,020Posts
    • 1,787Thanks
    Oakdene
    Out of interest
    • #1
    • 18th Apr 17, 2:29 PM
    Out of interest 18th Apr 17 at 2:29 PM
    If you get a DIP/AIP from a bank saying they will give you say £150k but will lend you up to £180k what are the chances of them actually giving you the mortgage? Obviously I know both applicants are credit scored & a full search is done.... I will add that I currently have a mortgage with the lender & it is to add my partner & move house.
Page 1
    • kingstreet
    • By kingstreet 18th Apr 17, 2:58 PM
    • 31,459 Posts
    • 16,813 Thanks
    kingstreet
    • #2
    • 18th Apr 17, 2:58 PM
    • #2
    • 18th Apr 17, 2:58 PM
    I can't think of a single lender's agreement in principle we don't rely on for our clients. Those carrying out only a soft search can be deemed less reliable, but to be fair we have had no issues with such a case in years.

    The builders we represent are accepting reservations on the basis of our qualification of the purchaser and that includes an agreement in principle. If these weren't reliable, the builders would have told us to change our processes by now as they would not be achieving the completions they think they should...
    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. Please do not send PMs asking for one-to-one-advice, or representation.
    • Oakdene
    • By Oakdene 18th Apr 17, 3:00 PM
    • 1,020 Posts
    • 1,787 Thanks
    Oakdene
    • #3
    • 18th Apr 17, 3:00 PM
    • #3
    • 18th Apr 17, 3:00 PM
    I can't think of a single lender's agreement in principle we don't rely on for our clients. Those carrying out only a soft search can be deemed less reliable, but to be fair we have had no issues with such a case in years.

    The builders we represent are accepting reservations on the basis of our qualification of the purchaser and that includes an agreement in principle. If these weren't reliable, the builders would have told us to change our processes by now as they would not be achieving the completions they think they should...
    Originally posted by kingstreet
    Thank you, I think it could be time to look at applying in full now!!
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