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FTB dilemma re making offer, mortgage, etc!
Comments
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It doesn't matter if the MIP expires - the purpose of it is to show that there's a reasonable chance you'll be able to get a mortgage. The agent will understand that if you were approved for a MIP two months earlier, chances are you'll still be fine at the point where you make your offer.0
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I got an agreement in principle with Halifax back in September. Family stuff meant I didn't house hunt again until March. Quick email to them to ask if it still applied if circumstances hadn't changed and all was OK.
Not going with them for actual mortage though ...0 -
Oh dear. the provider with best rate only offers a mortgage in principle valid for 30 days....
The agreement in principle is a means to show the vendor that you can borrow the amount you'll need, and lets you proceed to making an offer.
The reason that they expire in 30/60 etc. days is because the lender doesn't want to say they'll offer that interest rate for any longer than that - as long as your circumstances don't change the amount they are willing to lend you shouldn't change.0
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