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how many AIPs is too many?
westy_1981
Posts: 71 Forumite
Hello all,
I am a FTB who is very new to all this - any advice will be gratefully received . . .
I was originally looking to buy a place in Jan / Feb this year when I was even wetter behind the ears - spoke to Nationwide plus a couple of other IFAs and got 3 AIPs done then. (If I'm honest wasn't really sure what they were or the potential adverse affect they could have on my rating) They have all run out as they were valid for 60 / 90 days. I eventually decided that buying at the time was not right as we were just moving to the area nad so decided to rent. Now that we have been in the area a few months we are looking to buy. My credit rating is very good, have a credit card that i use regulalrly and always clear the balance completely every month. No debts (except student loan), no CCJs, etc etc
My main concern is the AIPs carried out earlier in the year - will having had 3 carried out have a huge effect or are they nothing to worry about? I am now going through the process of choosing an IFA and don't want to rush to one for another AIP before I'm sure I want to proceed with that IFA.
Hope this all makes sense and look forward to people's advice (good / bad) I appreciate that I was pretty naive at the time but like I said FTB with no experience so I am constantly learning.
Thanks for reading.
I am a FTB who is very new to all this - any advice will be gratefully received . . .
I was originally looking to buy a place in Jan / Feb this year when I was even wetter behind the ears - spoke to Nationwide plus a couple of other IFAs and got 3 AIPs done then. (If I'm honest wasn't really sure what they were or the potential adverse affect they could have on my rating) They have all run out as they were valid for 60 / 90 days. I eventually decided that buying at the time was not right as we were just moving to the area nad so decided to rent. Now that we have been in the area a few months we are looking to buy. My credit rating is very good, have a credit card that i use regulalrly and always clear the balance completely every month. No debts (except student loan), no CCJs, etc etc
My main concern is the AIPs carried out earlier in the year - will having had 3 carried out have a huge effect or are they nothing to worry about? I am now going through the process of choosing an IFA and don't want to rush to one for another AIP before I'm sure I want to proceed with that IFA.
Hope this all makes sense and look forward to people's advice (good / bad) I appreciate that I was pretty naive at the time but like I said FTB with no experience so I am constantly learning.
Thanks for reading.
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Comments
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hi guys, just wondering if there is anyone who could hlp with the above?
Thanks in advance0 -
You should be fine.
What figures were you looking at i.e. purchase price and deposit, income?I am a Mortgage AdviserYou 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.0 -
Nothing to worry about. Getting 3 aips is stupid, but the effect of the searches will largely have worn off by now. 1 AIP is sufficient until you have an offer accepted on a property, at which point a good broker would recheck the market and push forward with an application to the best lender at that time.0
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many thanks, looking at house prices up to 190k, 85% LTV mortgage, income = £47k0
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westy_1981 wrote: »many thanks, looking at house prices up to 190k, 85% LTV mortgage, income = £47k
Should be fine
I am a Mortgage AdviserYou 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.0 -
happy days!! many thanks0
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