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First time buyer help
hairymaclary
Posts: 13 Forumite
Hello! My brother is looking to buy for the first time and i'm trying to help him with the process.
When I did it years ago, estate agents wouldn't take an offer seriously until I had a mortgage in principle. Is this still the case? He has a mortgage in principle from Trussle (online broker), but this really just looks like an estimate of what he could borrow based on details he has supplied. They haven't applied to any lenders for him yet.
Hope this makes sense, and perhaps what i'm asking is completely obvious. Any advice appreciated!
When I did it years ago, estate agents wouldn't take an offer seriously until I had a mortgage in principle. Is this still the case? He has a mortgage in principle from Trussle (online broker), but this really just looks like an estimate of what he could borrow based on details he has supplied. They haven't applied to any lenders for him yet.
Hope this makes sense, and perhaps what i'm asking is completely obvious. Any advice appreciated!
0
Comments
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Mortgages are a lot harder to get post covid. There are a lot of people wondering around with aip's who cant get a mortgage. The larger conveyor firms dont tend to do an aip as they dont want to waste the time. People then find that they try to get a mortgage and fail. Estate agents know this which is why they want to see an actual aip. Speak to a proper broker1
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If your brothers details have not been supplied to a Lender he does not have a decision in principle and should not expect an estate agent to treat any offer seriously.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.1
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