What does an AIP look like? How do I know if i have one?

woodworm001

Yes it's a daft question

We are attempting to port our mortgage from A&L to Santander and last Friday we spent several hours on the phone with a Santander mortgage advisor going through all our details such as affordability and a credit check, etc. The outcome of all this was positive and has now been passed on to the underwriters for a decision before valuation.

I thought that this was an AIP, but the documentation I've received from them doesn't mention this, I have a covering letter, a keyfacts document and a copy of our full application.

The estate agent for our vendor has asked for a copy of our AIP but I'm not sure what to send them. I thought I would get something that said 'agreement in pricinciple' on it.

I realise that it's not worth much as it could still get rejected, but the estate agent keeps bugging me.

Thanks for reading

kingstreet

If they didn't print one off in the process of going from initial enquiry to full application, you'll have to ask them to send you one instead.

It is an option. It's not an automatic requirement.

oli_ro

For the AIP certificate, each bank has its own format that states the amount, documents that need submission for full mortgage application, terms and conditions, etc.

You would know if you had the certificate, it is hard to miss.

Why not call your lender and request it.

woodworm001

I will do, I had assummed I would just be sent one and thought I was going mad looking for it!

Thanks

kingstreet

The Abbey/Santander one has "Agreement In Principle" in large letters at the top of the page. Impossible to miss.

woodworm001

Well I just rang them (mortgage application helpdesk number) and was told they don't issue them.

I am expecting a call back from the advisor later so will ask him.

Thanks

kingstreet

The system generates one.

If they choose not to issue them, that's a different matter.

woodworm001

Yes, I get the feeling that if you don't ask exactly the right question they don't volunteer any information. Though when I asked if I could have one she said no as they don't issue them.

Anyway, time for coffee .....