FTB AIP how long is it valid

leyton-cats

Hello,

A quick question about how long a AIP can be for. Today I was told that an AIP from the PostOffice is only valid for thirty days!

This seems to be pretty short, as I assume that I cannot even start to look and take part in viewings of property until I've got a AIP in place. Am I right in assuming that I'd have to find, view,submit offer, wait for seller to accept, then actually apply to get the mortgage all within thirty calender days!!! That's barely 22 working days, I do have to work fulltime, so cannot takesweek off work to do this.

I was hoping to take a longer time to consider the various options, I was hoping not to be rushed into a panic. What have I misunderstood?

many thanks

ACG

28-30 days is about standard.

This is why I try not to do AIPs until a property has been found. Sometimes that is not possible - it depends on the estate agent.

Senior_Paper_Monitor

Sod the estate agents - except in very specific circumstances AiP/DiP should not be undertaken until there is 'offer accepted in principle'.

leyton-cats

Thanks for the replies. So it seems that my plan to sort out the mortgage early is totally the wrong way to do this.

Are affordability checks on the lenders website to be trusted? How do I assess how much I can borrow and at what cost. I'm really nevious about putting an offer in for a property when I have no reliable information on what mortgage I can actually get.
Do most buyers run into the market this blind?

ACG

Some lenders are pretty accurate, some I tend to take as a guide.

They tend to be as accurate as the information you put in though.