When should I get an agreement in principle in Runcorn?
Securing an Agreement in Principle (AIP) is a vital step in the mortgage application process, as it indicates a lender’s willingness to let you borrow from them based on you providing evidence supporting your income and affordability.
With an AIP, you can make an offer on a property and even use it to negotiate the purchase price with the seller. If two buyers approach a seller, one with an AIP and the other without, the buyer with the AIP is more likely to be chosen because they have already been pre-approved and can move through the mortgage process faster.
AIPs typically remain valid for 30-90 days and can be renewed after they expire. If you need help obtaining an AIP, you can turn to a mortgage broker in Runcorn, like us. We can typically arrange an AIP within 24 hours of your mortgage appointment, making your mortgage journey smooth and hassle-free.
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