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Does a decision in pronciple mean no house to sell
tingly
Posts: 236 Forumite
Hi there
If someone has a decision in principle, does that by necessity mean they have no house to sell ?
Thanks
If someone has a decision in principle, does that by necessity mean they have no house to sell ?
Thanks
0
Comments
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No, it means that a mortgage company will 'in principle' lend them what they're asking for.0
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Oh i see thanks. So i still might have to wait for a sale then. Thanks0
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If someone has a decision in principle, does that by necessity mean they have no house to sell ?Oh i see thanks. So i still might have to wait for a sale then. Thanks
Are you saying that you've accepted an offer on your property, and you're wondering if your buyer has a property to sell?
You should really have found out that kind of information before accepting the offer. If they do have a property to sell, you'd also want to know whether it is under offer, if there is a chain below, whether the chain is complete etc.
If you're selling through an EA, those should be the type of things they automatically ask.0 -
Hi there
If someone has a decision in principle, does that by necessity mean they have no house to sell ?
Thanks
No, the "in principle" means in theory we'd loan this much, depending on
a) the house you're buying
b) proof of what you've said about your affordability
They could still be selling a house and only borrowing the additional to buy your house if it's more expensive.0
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