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Mortgage Agreements in Principle

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Hi all,

Would there be any negative impact of obtaining numerous mortgage agreements in principle from lenders that do 'soft checks' i.e. that don't effect your credit rating, to see who may be offering the best deal?

So far I've seen that Natwest and Barclays do this. Any other suggestions? Will be getting a mortgage jointly with my partner.

Thanks, Laura

Comments

  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No value in this at all.
    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.
  • It would be useful if you could elaborate please amnblog?

    We are FTB so obviously it's all very complex and daunting! I thought a mortgage in principle would make us more appealing to estate agents when we see a house we want? I understand there's no guarantee in a AIP even if "accepted" though.
  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Running scores from various lenders is not advisable, nor necessary, even if you do believe them to be 'soft checks'.

    Get yourself some advice from an independent mortgage broker who will recommend the correct lender for you and run one credit score - job done.
    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.
  • betmunch
    betmunch Posts: 3,126 Forumite
    Hi all,

    Would there be any negative impact of obtaining numerous mortgage agreements in principle from lenders that do 'soft checks' i.e. that don't effect your credit rating, to see who may be offering the best deal?

    So far I've seen that Natwest and Barclays do this. Any other suggestions? Will be getting a mortgage jointly with my partner.

    Thanks, Laura

    What benefit to you feel you have if you have more than one AIP?

    It is complex and daunting as you say, so get a professional to sort it out for you
    I am a Mortgage Adviser
    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.
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