AIP Next Steps

Vortex566

We received a AIP from Santander online for a mortgage of £95,000. We have since found a house that will require a mortgage of £82,000.

My question is should I worry about being rejected now? We came back from Santander with an A credit rating and they even said we could fast track the application.

I think I worry too much, but when you are dealing with such a life changing purchase it's hard not too.

GuidoT

Why are you worried, if you were 'eligible' for £95K then you will be fine for £82K.

It is a start, but AIP does not mean too much, your application can still get rejected.

I hope you have not just gone to Santander and will shop around with other lenders.

Vortex566

We have looked at other companies, but the £99 arrangement fee is really what made us look at Santander.

Our broker has said that we can look again when we apply for the full mortgage, but from what I've heard it would seem having an AIP is not really worth that much at all.

I guess it's a step in the right direction!