Mortgage in principle on an offset mortgage?

Claremac

I was buying a property until about 2 weeks ago when the vendor pulled out as my bank were taking so long with the mortgage offer even though it was imminent. Not heart-broken actually as prices have dropped so much lately. When the vendor pulled out, I let the bank know and they stopped processing the mortgage.

I am now thinking that I should have let them carry on and send me a mortgage offer which would now be a mortgage in principle to put me in a stronger position when negotiating on another property. It is an offset mortgage so is it possible to have a mortgage in principle and, is so, is it too late to ask them to send it? Thanks.

feisty1

you cant have an offer now as no property to offer on, yr DIP decision in Principle will be valid for a specific time depending on lender however at the mo it doest mean a lot with LTV's going up & down product changes etc...take the opportunity to save a bit more money.......good luck