We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
DIP only valid for 1 month. What to do next ?
oli_ro
Posts: 142 Forumite
I was using a whole of market broker and I obtained AIP from A&L valid for 1 month(this was 2 weeks ago). They have "credit search"-ed me for this.
When the paperwork was email to me, I was a bit surprised to discover that the DIP was only valid for 1 month. 2 weeks into house searching process, it is obvious that it can take months.
Don't know what to do with the DIP:
- let it expire and continue to search for houses, reasonably confident that I can obtain a mortgage when I eventually find a house. The risk is that if an EA can ask for DIP before accepting an offer.
- attempt to extend the DIP. Can this be done without having to be credit searched again ?
- appy for another DIP ? This is a bit risky as the initial search already lowered my score, I cannot keep doing this every month.
What do you think ?
(Thanks in advance)
When the paperwork was email to me, I was a bit surprised to discover that the DIP was only valid for 1 month. 2 weeks into house searching process, it is obvious that it can take months.
Don't know what to do with the DIP:
- let it expire and continue to search for houses, reasonably confident that I can obtain a mortgage when I eventually find a house. The risk is that if an EA can ask for DIP before accepting an offer.
- attempt to extend the DIP. Can this be done without having to be credit searched again ?
- appy for another DIP ? This is a bit risky as the initial search already lowered my score, I cannot keep doing this every month.
What do you think ?
(Thanks in advance)
0
Comments
-
I think you should speak to A&L!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards