FTB awaiting mortgage approval-what to do?

f1slikki

Hi there,
I am a FTB and have an agreement in principal with Abbey, My credit score on equifax shows poor therefore when broker advised of the AIP I was delighted however I have sent the full mortgage application off and am now awaiting nervously for the decision, how does this work do I now get credit checked & scored or would this already have been carried out at time of AIP and if so what is the full application decision based on.
I apologise that this is long winded it is just that I am looking to buy a homestake property (Abbey aware of this) and to secure the flat I need to put down deposits for certain things and I dnt want to be paying out money for things if the mortgage could then be declined.

any help would be greatly received, also has anyone on here had a mortgage through Abbey based on a not so perfect credit score.

thanks

herbiesjp

Any mortgage can be declined at any time

However Abbey will run a credit check at AIP stage , and it will generate a response with a list of items they wany - however they can come back and ask for more items if they want

Before the survey is instructed they will make sure they have all the paperwork they need to agree the mortgage - and only then instruct the survey.

At that point it is down to how the survey comes out as to whether they will proceed with the formal mortgage offer or not

grogdog

abbey are one of the better lenders for people with slight problems but alot depends on the ltv, but from my experience if they accept the dip and you can prove what has been put on the dip ie income etc then you shouldnt have a problem