Santander Decision in Principle - how reliable?

Blinkbadger

Hi all

We are buying a new build property through help to buy equity loan. We met with our mortgage advisor a few weeks back and he advised santander was the best for our circumstances.

We have heard back from him to say he has got us an agreement in principle and all has gone through fine and that he has gone ahead with the full app in order to secure the rate before they have put up the rates.

My question is how reliable is a decision in principle with santander? Do they do a full check at dip stage or is it just a soft search?

Any advice appreciated

Thanks

ACG

Full credit check is done i believe.

DIPs are only as reliable as the information entered. The credit check is usually fine, so assuming your broker put in your income/expenditure/deductions correctly and your paperwork backs this up then it should be fine.

Blinkbadger

Thanks ACG. That puts my mind at rest. Feels at least one hurdle is done now.

Appreciate your response