With most mortgage applications an Agreement in Principle (AIP) or Decision in Principle (DIP) will be submitted by the mortgage broker to see whether you can get a mortgage and to deal with any potential issues early on. These assessments review your stated circumstances and carry out a ‘soft’ credit search to check your current commitments and credit history to confirm how much the mortgage provider is likely to lend. These assessments are not property specific . AIPs / DIPs are however useful for prospective borrowers as they give a strong indication of whether the mortgage will be secured and how much you can borrow. A decision in principle can also enable you to secure the property of your choice as some estate agents like to see that you have finance in hand before accepting an offer.

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