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Agreement in principle
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What loan to value are you applying for?I am a Mortgage AdviserYou 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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Thanks both.
He has confirmed Woolwich has issued a basic agreement in principle. He didn't just call through but made an application online; I've got a screen grab confirming that.
The AIP is for 90% LTV.0 -
He needs to call this case through in my opinion.
Way too many variables for just keyed agreement in principle.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Thanks. He may well have done that and I'm sure he will do his best for us, as I know he has arranged a mortgage for a friend in a very similar position to us.He needs to call this case through in my opinion.
Way too many variables for just keyed agreement in principle.
It seems then that I am right to be cautious about relying on the AIP but that if a human underwriter looks at our situation, we might be OK.0 -
At 90% there is little room for discretion. Anything outside of policy will be harder to justify than at 50% LTV.
Fingers crossed for youI am a Mortgage AdviserYou 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 -
Thank you.At 90% there is little room for discretion. Anything outside of policy will be harder to justify than at 50% LTV.
Fingers crossed for you
We remain optimistic! Our rent is so high that a mortgage would actually be cheaper and we are keen to move forwards.
Thanks for the help. I guess we'll know in a few weeks one way or another if we try to buy the property we like!0
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