Agreement in principal

fatboyonadiet

A friend was wondering, once you get this has it already been to the underwriters or does it go after??

_Andy_

Normally goes afterwards.

Ian_Griffiths_Halifax

It is doubtful that it has actually been touched by a human, but regardless, it would usually go to an underwriter at some point.

Your friend cannot assume that this guarantees that he will get a mortgage based on the Agreement In Principal as it is simply that - In Principle.

If any of his/her details are different when the lender receives the full application then it can change the case.

fatboyonadiet

Cheers - his worry is that despite his new lender asking for his previous employment details they're actually not on the application for some reason and that it might make a difference to this application.

He is also worried that his current lender might have raise issues with that too (how much do they actaully see of his current application - if anything??)

Ian_Griffiths_Halifax

fatboyonadiet wrote: »

Cheers - his worry is that despite his new lender asking for his previous employment details they're actually not on the application for some reason and that it might make a difference to this application.

He is also worried that his current lender might have raise issues with that too (how much do they actaully see of his current application - if anything??)

I can't see what his concern is. If he knows his previous employers details and the lender asks for them at some point in the future, he can give them to the lender.

As for his current lender, they won't pass any details of his mortgage application form when applying to them, to the new lender.

If he's fibbed about his employment history, and I'm not talking about saying he started on 1 Feb 2007 when he actually started on the 4th Feb 2007, but if he's completely lied about some of his employment history, then he had better watch out as he would be committing mortgage fraud.

As an EXAMPLE, if the lender wants a 12 month employment history and he's completely made up a job to fill a gap simply to satisfy the lender, then that's WRONG and he shouldn't have done so.

fatboyonadiet

No, nothing like that, his concern was that current lender might refuse him - even though he did supply them but for some reason they're not on his app, I guess the best thing would be for him to contact them about it.

He was also worried that if his previous lender seen the app that they would think he's committed fraud even though it's the current lenders mistake - does that make sense?!

Ian_Griffiths_Halifax

If all is above board, then he has absolutely nothing to worry about. It may simply be that the lender he has chosen doesn't need the previous employment details as, at the end of the day, what does it matter what he earned in a previous job if he has a decent history and income with his present employers?

He has nothing to worry about his current lender.

fatboyonadiet

Thanks! Much appreciated