Offer in principle question

Dollymix12

When doing an offer in principle do the mortgage company do a credit check or do they give you an answer based in the information you provide? Just wondering as a late payment note is gijnv to be removed from my file but I think it's going to take a month or two, we are getting an offer in principle but it will be a few months before we need to actually apply for the mortgage by which time the late payment should be gone

markfj

I pretty sure I'm right in saying the don't do a full credit check when getting a Mortgage in principle, only when actually applying

Dollymix12

Thanks, I just googled and it looks like it depends on the lender, I'm hoping it won't make much of a difference as we are requesting an offer of around 100k less than our salaries suggest we can get

kingstreet

If we all accept that the terms "offer in principle" "agreement in principle" and "decision in principle" all mean the same thing, unfortunately lenders don't agree with us.

These can mean;-

a simple affordability check with no credit search at all

a "soft search" which leaves no footprint

a full search which leaves a record on your credit file.

You have to be far more specific about what you want and who you plan to apply to...