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Ask for a second AiP?
gp_FTB
Posts: 6 Forumite
Hi all, first time buyer here I am looking for some advice on agreement in principles / mortgage applications
In February we got an AiP with Halifax in order to put down an offer for a flat we liked, which wasn't accepted. Since then we've looked at more places and also done a bit more research into lenders and we've now realized that Nationwide would offer us better rates (we're looking at 75% LTV, 5y fixed)
We are about to put down an offer on another property we liked, so the question is should we get another AiP from Nationwide? Is it bad to ask for two AiPs in a short time (even though, as far as I understand, Nationwide only does a soft search)? Alternatively would it be too risky to proceed with a full application with Nationwide without getting an AiP with them before?
In February we got an AiP with Halifax in order to put down an offer for a flat we liked, which wasn't accepted. Since then we've looked at more places and also done a bit more research into lenders and we've now realized that Nationwide would offer us better rates (we're looking at 75% LTV, 5y fixed)
We are about to put down an offer on another property we liked, so the question is should we get another AiP from Nationwide? Is it bad to ask for two AiPs in a short time (even though, as far as I understand, Nationwide only does a soft search)? Alternatively would it be too risky to proceed with a full application with Nationwide without getting an AiP with them before?
Many thanks in advance for any tips and clarifications!!
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Comments
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@gp_ftb The February Halifax DIP would have been a soft check as well and should have no adverse impact on your credit history. Same with the Nationwide DIP.
I don't know how it works direct but I can't think of any good reason why you would want to do a full mortgage app without a positive DIP.
For the purposes of making an offer, if the Halifax DIP is still valid and covers the borrowing required, just use that for the estate agent.I am a Mortgage Adviser - 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.
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thanks a lot for the reply! Yes exactly I would be a bit anxious about doing a full app without a DIP first (even though we should fit their criteria).K_S said:@gp_ftb The February Halifax DIP would have been a soft check as well and should have no adverse impact on your credit history. Same with the Nationwide DIP.
I don't know how it works direct but I can't think of any good reason why you would want to do a full mortgage app without a positive DIP.
For the purposes of making an offer, if the Halifax DIP is still valid and covers the borrowing required, just use that for the estate agent.
it sounds like making the offer using current DIP and meanwhile secure a second DIP with the other lender would be a good option0
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