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DIP/AIP process
VultureDodger
Posts: 65 Forumite
Hi there. Can anyone tell me what information is required to obtain a DIP/AIP, please? How in depth does the process go? Will the mortgage provider want bank statements etc at this point, or will that be for the 'Full Monty' application?
Hubby is just starting a new job next week (big pay rise) so will have a 3 month probationary period - we're not in a massive rush to apply for the mortgage, but would these mortgage companies be bothered by the this if we decided to apply before the probation elapsed?
Huge thanks for any information and advice :beer:
Hubby is just starting a new job next week (big pay rise) so will have a 3 month probationary period - we're not in a massive rush to apply for the mortgage, but would these mortgage companies be bothered by the this if we decided to apply before the probation elapsed?
Huge thanks for any information and advice :beer:
0
Comments
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I think yes, lender will be worried about probation period. Some lenders even require to work at the same place for a certain period of time (for ex. 1 year).
For our DIP we needed some documentation, like bank statements and payslips, but this really depends on a lender. Some of them can be done even online.***Twins mummy***0 -
Some lenders are unconcerned with probationary periods, others are.
Careful lender selection required.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
This is great. Thank you guys for taking time to reply
We haven't put our house on the market yet, (doing some touch up's and taking the opportunity to do a major declutter), so hopefully we'll be sorted with the probation, or at least have the chance to sweet talk the new bosses into agreeing to cut it short.
If anyone has any tips or further advice on obtaining a DIP, I'd love to hear them
Huge thanks!0 -
A DIP is not a formal mortgage offer. Might as well wait until the timing is right. Given you haven't even started to market your own property. Doesn't sound as if it will be an issue for a while anyway.0
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