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Acceptance in principle
Graham727
Posts: 46 Forumite
Hi all,
If we achieve an acceptance in principle I take it we have been credit checked and once all the requested info has been submitted and the house valued they make us a mortgage offer which we then accept??
It seems rather straight forward!! Is there something I am missing??
Any advice welcomed
Thanks
If we achieve an acceptance in principle I take it we have been credit checked and once all the requested info has been submitted and the house valued they make us a mortgage offer which we then accept??
It seems rather straight forward!! Is there something I am missing??
Any advice welcomed
Thanks
0
Comments
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An AIP simply means the lender is likely to offer you a mortgage based on the information you have provided. Some lenders do a credit check at this stage and some don't.
You need to provide a lot more information in the full application, along with proof of salary and potentially bank statements. It's very common to be declined a mortgage even after obtaining an AIP.
Having said that, if you have a solid credit history, meet the affordability requirements and have a decent deposit, you will be fine.0 -
If you hear the words "soft footprint" I would view the end result as still in question until you have a full application accepted.
Lenders doing full searches at agreement in principle tend to have more reliable results.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks for the replies.
The lender is Santander!! I checked my credit report and they have already carried out a credit check!! They have asked for one pay slip, bank statement showing deposit etc!! They say once these have been checked they will send valuer out and if that's ok they will give us a mortgage offer.
I hope it is this straight forward as we have been quite stressed over the whole thing as I am sure everyone gets!!0 -
Thanks for the replies.
The lender is Santander!! I checked my credit report and they have already carried out a credit check!! They have asked for one pay slip, bank statement showing deposit etc!! They say once these have been checked they will send valuer out and if that's ok they will give us a mortgage offer.
I hope it is this straight forward as we have been quite stressed over the whole thing as I am sure everyone gets!!
You've got nothing to worry about sounds like its all going to plan.I am a Mortgage Adviser. You 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
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