Mortgage Agreements in Principle

laurawilliams500

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

amnblog

No value in this at all.

laurawilliams500

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

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.

betmunch

laurawilliams500 wrote: »

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