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Strange Decision in Principle

Legacy_user
Legacy_user Posts: 0 Newbie
edited 1 February 2019 at 7:11PM in Mortgages & endowments
Hello
Thanks

Comments

  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    One particular large broker does an affordability check and calls it an AIP.
    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.
  • System
    System Posts: 178,365 Community Admin
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    So will they send me some aip if i ask them too then, or willit be an affordability certificate? Will an affordability certificate sort of guarantee me a mortgage? Sorry, i dont think i understand. Thanks
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  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I don't know, I would be speculating.

    Why not ask the firm concerned?
    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.
  • System
    System Posts: 178,365 Community Admin
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    Good point. I was just feeling suspicious as when I ask them how, they told me i neednt worry and i was to trust them.

    Thanks anyway
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Finchy2018
    Finchy2018 Posts: 508 Forumite
    Fifth Anniversary 100 Posts Name Dropper Debt-free and Proud!
    my understanding is an AIP doesn't guarantee a mortgage, it's not a hard search, it's based on the information provided. Before we appointed a real life in human, I can go visit broker I used an online firm and they provided me with an AIP but it's vague and the figures that I 'could' be lent vary quite a bit. My AIP from a specific bank, confirms my loan amount, not what they could possibly lend me, but that what I have asked to borrow is acceptable to them.
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