single parent, debt free apart from mortgage!
Current balance: £73 525.33 (September 2023, down from £103,900)
Goal - by 2036 (14 yrs early) - in it for the long haul! paid £30 374.67 so far, 29.2% down, 70.8% to go!
We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
AIP but advisor checking rates? confused..
laura_louise
Posts: 92 Forumite
I'm a FTB and have just had an offer accepted on a property. My financial advisor told me i had an AIP (around 2 weeks ago). Now i'm ready to proceed they have kept me waiting a couple of days while they 'check rates' and draw up some quotes. I'm a bit confused since i thought i already had this with the original AIP and that we could simply apply for that one, which i was happy with. Any ideas what's going on, how does this work? I feel like i've bugged them a lot so don't want to call again, i'm waiting to see what they send me so wondered if anyone here had any ideas, is this normal?
0
Comments
-
Is your AIP with Halifax?
Personally I only do an AIP once a property has been found and purchase price agreed.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Santander
I was wondering if i didn't actually have an AIP like the advisor said and that's why they are hunting around now... if that's the case i'm very scared, thought i had passed the first stage, and maybe i haven't. Worried cos i'm self-employed (well, director of a LTD company) so the application is a bit more complicated. I had a default on my credit record 7 years ago but other than that my credit record is good, no missed payments at all for the past 7 years and i believe the default will no longer show, experian shows a score of 983... fingers crossed..single parent, debt free apart from mortgage!
Current balance: £73 525.33 (September 2023, down from £103,900)
Goal - by 2036 (14 yrs early) - in it for the long haul! paid £30 374.67 so far, 29.2% down, 70.8% to go!0 -
Seems odd that he has done an AIP with santander and is only now doing the research. Unless he has chosen Santander but is now checking which of their deals is best?
Probably best giving them a call/email.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Things are changing so quickly, the lender used for the AIP might not have the best product a few weeks later, so I'd expect the broker to re-source prior to making an application to ensure you're still getting the best deal.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
-
Santander issued New rates on 17th Dec so your broker will be checking what is available.
They should also be checking rates from other possible lenders to ensure you get the best deal possible.
An AIP is an intention to lend and is not product related.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards