When should I get an agreement in principle in St Helens?
A document that displays a lender’s willingness to grant you a mortgage based on your income and affordability evidence is known as an Agreement in Principle (AIP).
In the mortgage process, an AIP holds significant importance. It allows you to make an offer on a property and may assist you in negotiating prices with the seller. For instance, if two potential buyers approach a seller, one with an AIP and the other without, the seller is more inclined to select the buyer with the AIP. This is because they have already received pre-approval and can advance more quickly through the mortgage process.
AIPs generally remain valid for 30-90 days and can be renewed upon expiry. To receive an AIP, you can consult a mortgage broker in St Helens, such as ourselves. We can usually arrange an AIP within 24 hours of your mortgage appointment.
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