mortgage in principle

jonnyb1978

Looking to put the house on the market over the next week. I'm wondering when, if at all I need to apply for mortgage in principal.

I have had an informal chat with my bank who said based on salary, affordability etc I can borrow over 300k. I only want half of that, so I'm anticipating there shouldn't be much of a problem getting mortgage. Our current mortgage is with the same bank.

Should I apply now or maybe wait until either we get an offer on our house or just prior to putting an offer in on one we want to buy.

Dave_Ham

If you have nothing negative on your credit files and nothing unusual in the make up of your income, you probably do not need one at this point.

That said, when you try and offer on a property; the first thing an Estate Agent will want to see is an Agreement In Principle Certificate and then queue unacceptable levels of pushiness towards their broker and solicitors.

Good luck