Mortgage in principle

horrorhag

Hi there,


Feel a bit silly for asking but if you don't know its always best to ask!


I'm a first time buyer, I work full time in a salaried job and part time, seasonally for my partner - as an employee (all declared, taxed and above board). My partner is self employed and will be getting his three years of books signed off at the end of the tax year (so in a couple of weeks).


We will be going through a mortgage broker because of our circumstances. My question is, can we also get a mortgage in principle from a broker as well or will we have to go to say, one of our banks instead there first?


thanks guys!

ACG

A broker can do a DIP (Mortgage in principle) for you.
There is very little point getting more than 1 DIP unless the first one gets declined.

kingstreet

The broker can obtain an agreement in principle from the lender you agree best suits your needs.

horrorhag

Thanks guys! One less thing to worry about!

BlueberryB

Hi Horrorhag,

We are in the same boat so to speak!

We enlisted the help of a good broker after speaking with 2 MAs in our small town who were no help at all, decided to go with one in the city. He has been worth his weight in gold, I faxed all paperwork though and a couple of phonecalls, and we got a DIP with Nationwide instantly! Even amended it 3 times for different amounts. We are too waiting for our next tax year accounts from our CA then we will be ready to proceed with the full mortgage application end April/May. We are buying a off-plan new build and it wont be ready until October that is the reason for the waiting til May. I am just hoping the rest of the process is as painfree as it has been until now!

Good Luck

horrorhag

Always nice to hear!