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2 Questions, Agreement in Principle: After it Expires, Deposit: If you can add to it Later
Scorpiogal13
Posts: 35 Forumite
Hi Guys, i have 2 questions for you.
I've read that AIPs expire after 60 or 90 days. Just wanted to know what happens if you haven't found your home by then, what's the process of reapplying for it? Do you (or your Mortgage Broker) have to submit all the paperwork/information again etc?.
Second question: Say i have a 30K deposit when i apply for a mortgage [in principle], what happens if 2 months later i've found a house but i've acquired an additional 10K.
Is it a matter of being able to just add the addiional 10K to the deposit? Or is it not that simple?
How does it work? I'm new to all this, so don't have a clue! Lol
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