Decision in principle help!!

Lpoppy91

My partner and I recently got a DIP with nationwide for £260k however since this we have found a home for £270k and we can afford the deposit on this. we would like to buy this house so would therefore need to change our DIP. Does anyone know if this is possible? Can you have two DIP with the same lender?

Thanks in advance

kaylajane

When you proceed to full application you can change the amount that you're looking for. That's what we did as we borrowed less then dip

ThePants999

A decision in principle just says "if you apply for a mortgage of this amount, and the home you're buying is acceptable security and you provide proof of the information you've provided so far, we'll accept it". Your actual application can be for more, it's just that they might not accept it. You can alternatively get a new DIP in advance if you need to be able to prove to the vendor that you're in a good position as a buyer.