Estate agent won't allow viewings until after a mortgage interview!

Horizon81

True, AIPs generally last 3 months, but you'll need one to secure a house through an agent. How else do they know you've got the funds? I know you shouldn't get too many credit checks run against your name however as long as you don't get one done too often (and I would say every 3 months is ok) then I wouldn't worry about it. Can someone please correct me if I'm wrong.

newhome4us

Mrs_Money wrote: »

The trouble with having to prove a Mortage Agreement In Principle with paperwork is that my relative's lenders have advised against this as these MAIPs only last 3 months and each time they do a new one they do a credit check and according to the lender, this is not a good idea (to have multiple credit checks, that is) and it probably takes most people longer than 3 months to find themselves a new home. They've filled in all the forms, proved income etc and have a verbal mortgage offer from the building society, but no paperwork to "prove" it!
There must be a rash of silly buyers out there that are not really serious for this to be happening so widely.

Our mortgage advisor got us AIP from Halifax and it is valid for 6 month - the best thing about it though is that they do "soft scoring" meaning no search shows in your credit report. Checked credit report since and no search shown! So maybe that's the way around this nosy EA, get AIP from Halifax (even if you intend to get mortgage with another lender) and have a weapon to ward of in house mortgage advisors. :cool: