Mortgage in principle obligation

jamieslucky7

I believe I can get a Mortgage agreement in principle over the phone using, lets say NatWest.

They tell me they could lend me up to £150k.

I then put an offer on a house. Do I have to use NatWest for my mortgage?

Or after the offer is accepted could I just get a broker to find me the best deal knowing that most lenders should be happy lending me £150k based on my AIP from NatWest?


Thanks

_Andy_

No obligation at all.

jamieslucky7

Super. So I already have my eye on a house. The easiest way forward is to go and check it out. Make an offer. Then get a broker to find me the best mortgage.

Is it likely all major mortgage lenders will give a similar AIP?

_Andy_

Assuming no adverse credit, income is OK etc probably yes.

Mrs_Z

Hi,
Why not contacting your broker first to advice you on the most competitive mortgage solution, then get the agreement in principle from that lender and then put the offer on the house? That way you'll be in a very strong position to proceed straight away if your offer gets accepted. The reason I'm saying this is that sometimes it's very easy to get these positive decisions through banks' website, etc - but when you then try to proceed, it takes some time to get the firm decision from them and it could make all the difference if you have other buyers competing for the same house.

dimbo61

How much deposit do you have ? the bigger the better and do you have funds to pay fees, surveys, solictors etc

jamieslucky7

dimbo61 wrote: »

How much deposit do you have ? the bigger the better and do you have funds to pay fees, surveys, solictors etc

Deposit £28k~ and the property is £114k.

Thanks Mrs Z. I guess I better find a mortgage broker. Buying a house is such a hassle.

opinions4u

Beware getting multiple credit searches done on the back of multiple AIP requests.

Just get one AIP.