Look then get an AIP? or just look? or get AIP first?

fimonkey

Back in 2007 I was nearly a FTB before then I pulled out due to various issues - but back then the property market was a very different game indeed! I got an AIP and ran round like everyone else trying to get properties which were going for OVER their asking price! The EA's were laughing indeed and I remember the way they tried to play me off against other potential buyers etc.

Now I'm kinda in a position to buy again but wonder which steps I should take first given the change in the market.

I am only interested in properties which are very few and far between in my area (freehold less than £140K). On rightmove at the moment there are only 2. So for the sake of just 2 properties seems a waste of time to see an MA first off all and get the AIP, but then I read on here EA's are not interested in those without proof they can proceed (which is an AIP).

What's the best way forward? If an AIP runs out in 3 months and there's nothing in particular I like in that period what's the point of jumping through all the hoops to get one?

G_M

Getting an AIP will help you determine what you can afford.

missjy

It took me less than 20 mins on the phone to Natwest to get my AIP with no 'jumping through hoops'. I would say get the AIP done....

madhouseof4

Our mortgage company kind of refused to speak with us until we had a property that we were really interested in... which we found hard to do because we didn't know what we could stretch too..... catch 22 situation! In the end we went to a different mortgage company, went through all the details on the phone, found out the maximum they were willing to lend and took a stab in the dark on a repo. Thankfully it all checked out with the company we are already with...( we hope! We're awaiting survey results :eek: - apparently our mortgage offer should be here tomorrow)

firstaspect

I usually look for properties first, however I'd have done my own research as to what I'm likely to be offered by mortage lenders.