can a "mortgage in principle" become in valid?

kingstreet

That was just to give you an idea how credit scoring works. It's nothing to do with Experian's 999 nonsense. In fact it uses data the CRAs aren't even aware of, such as employment history.

The point here is that all the application data and all the credit history data goes into the decision-making process we choose to call credit scoring.

Looking at your other thread about probation/contract etc an independent broker would be the best next port of call for this to be done properly and successfully.

mhoc

kingstreet wrote: »

That was just to give you an idea how credit scoring works. It's nothing to do with Experian's 999 nonsense. In fact it uses data the CRAs aren't even aware of, such as employment history.

The point here is that all the application data and all the credit history data goes into the decision-making process we choose to call credit scoring.

Looking at your other thread about probation/contract etc an independent broker would be the best next port of call for this to be done properly and successfully.

Yes, I am thinking this as well, if we can figure out how to find an independent broker.
He has talked to a mortgage adviser attached to an estate agency just for an initial chat and he is going to talk to Nationwide, his bank
My daughter used a broker and her mortgage in the end was through Nationwide

wantonnoodle

I wouldn't bother with an AIP/DIP/MIP. As others have said, they are only an indication.

A lot are only done using soft searches so don't have the full facts, and a full application can have a different outcome.

What's more, they only have a very short validity period - some are only valid for 30 days. Ours was valid 90 days but ours was only done as stage one of the full application, mainly as the EA wanted one to be able to take the property we'd offered on off the market.