Getting AIP renewed after having a offer accepted

JodyGibbons

Good afternoon,
Me and partner are in abit of a dilema.
Our agreement in principal expired last week and we've just put an offer in on a house yesterday which has been accepted :j. The vendors estate agent is very keen to see an AIP.

We have seen a mortgage broker who provided our initial one. I got in touch with him last week to get it renewed but he advised to only get one when you put in an offer, to protect your rating from multiple AIPs.

I'm intending to ring him tomorrow to get it renewed in light of the offer acceptance. However if we then proceed with a mortgage application with another lender will that mean another AIP (if its a different lender to the one who issued the original)

Do you need a mortgage in principle to get a mortgage? Is that the first step as part of their process? Just worried that sudden multiple AIPs will inhibit getting a mortgage.

kingstreet

Is the broker unable to establish the right lender for your mortgage now, so the agreement in principle will be the first section of the mortgage application he will do now your offer is accepted?

Not all agreements in principle leave any footprint, so there may not be a record visible to another lender either way.

ashe

You need the AIP before full application, and yes it is only valid for the lender it is from. However my understanding is most lenders only do a soft search at AIP stage. Your broker should be able to advise you on all this though.

JodyGibbons

Thank you both your advice is very helpful. Unfortunately I can't speak to the mortgage broker until tomorrow at least so I was just trying to get ahead of the game with it.

Cheers!
Jody