We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
apply for mortgage certificate now ?
1hu
Posts: 3 Newbie
if i apply now for a mortgage certificate will the lender honour the rate if mortgage rates go up ?
0
Comments
-
No. An agreement in principle doesn't usually secure a rate.
A full application is needed for that in most cases.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.0 -
@1hu As Kingstreet said, for the vast majority of mainstream lenders, you secure a rate only when a full application is submitted.
A notable exception to that is Nationwide which allows (at least for broker apps, not sure about direct) reserving a product at DIP/AIP stage, for 90 days during which period you must have submitted a full application and got an offer.1hu said:if i apply now for a mortgage certificate will the lender honour the rate if mortgage rates go up ?
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.
0 -
We can do that with Nationwide. Can direct applicants?K_S said:@1hu As Kingstreet said, for the vast majority of mainstream lenders, you secure a rate only when a full application is submitted.
A notable exception to that is Nationwide which allows reserving a product at DIP/AIP stage, for 90 days during which period you must have submitted a full application and got an offer.1hu said:if i apply now for a mortgage certificate will the lender honour the rate if mortgage rates go up ?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.1 -
Dont skipton honour a product for a week after it has been pulled if you have an illustration? There is something in the back of my mind, but I could be wrong.
I am a Mortgage AdviserYou 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.0 -
@kingstreet I've no idea tbh. I've updated my post to make it clear that I'm referring to intermediary apps.kingstreet said:
We can do that with Nationwide. Can direct applicants?K_S said:@1hu As Kingstreet said, for the vast majority of mainstream lenders, you secure a rate only when a full application is submitted.
A notable exception to that is Nationwide which allows reserving a product at DIP/AIP stage, for 90 days during which period you must have submitted a full application and got an offer.1hu said:if i apply now for a mortgage certificate will the lender honour the rate if mortgage rates go up ?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.
1 -
Me neither TBH.K_S said:
@kingstreet I've no idea tbh. I've updated my post to make it clear that I'm referring to intermediary apps.kingstreet said:
We can do that with Nationwide. Can direct applicants?K_S said:@1hu As Kingstreet said, for the vast majority of mainstream lenders, you secure a rate only when a full application is submitted.
A notable exception to that is Nationwide which allows reserving a product at DIP/AIP stage, for 90 days during which period you must have submitted a full application and got an offer.1hu said:if i apply now for a mortgage certificate will the lender honour the rate if mortgage rates go up ?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.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards