We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Agreement in Principle: interest rates guaranteed?
andre_xs
Posts: 286 Forumite
I think I know the answer, but just to double check:
If I have an AiP which specifies a certain interest rate for the loan amount and terms (e.g. 5 years fixed), is that just an example for the rates on the day the AiP was generated, or is that actually a guaranteed interest rate in case you go for a mortgage based on the AiP.
I presume it is the former...
Andre
If I have an AiP which specifies a certain interest rate for the loan amount and terms (e.g. 5 years fixed), is that just an example for the rates on the day the AiP was generated, or is that actually a guaranteed interest rate in case you go for a mortgage based on the AiP.
I presume it is the former...
Andre
0
Comments
-
It would not normally guarantee the rates, but who is the lender?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
-
In this example it would have been NatWest.0
-
Your AIP will not specify product.
Your KFI (Key Facts) outlines product but does not guarantee anything.
Your rate is reserved when you submit your full application.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
- 350.1K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 243K Work, Benefits & Business
- 597.4K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards