Just 4 Mortgages
Q & A- The Difference Between an Agreement in Principle (AIP) and a Mortgage Offer?
Guide
What is the difference between a Agreement in Principle and a Mortgage Offer?
An Agreement in Principle also known as AIP is a document from a lender confirming they COULD look at lending to you and will give you an estimate of how much you may be able to borrow for a purchase or remortgage. It is the document that you can use with an estate agents to show that you may be in a financial position to purchase the property you are looking at. A mortgage offer is official confirmation from the lender that they agree to lend the requested amount for a particular property. The offer details your monthly payments, mortgage amount, rate and all the important information about the mortgage you are taking.
If you are needing an AIP for your new property purchase then give us a call today or book an appointment using the link below.
01623 622611
Click here for a Free Initial Consultation via our online booking system.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but a typical fee will be £494