Get your Mortgage Agreement in Principle
An AIP (sometimes called a Decision in Principle) is the letter that says a lender would, in principle, lend you a specific amount. It's not a guarantee, but estate agents won't take you seriously without one.
An AIP is a soft check. The lender runs a quick credit search and a basic affordability assessment based on what you tell them about your income and outgoings. They issue a letter saying "based on this, we'd lend up to £X." It's typically valid for 30-90 days.
Two ways to get one: direct from a lender (free, but you're tied to their products), or through a broker (the lender pays the broker, and some brokers also charge a fee, so ask upfront, in return the broker has access to dozens of products to find the best fit). For most people, a broker is the right answer.
Get an AIP
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The full explainer on what an AIP is, what changes between AIP and offer, and the questions to ask.
Learn more →An AIP is not a promise. It's a 'based on what you've told us, this looks fine.' The actual mortgage offer comes later, after the lender has verified your documents, valued the property, and run full underwriting. Between AIP and offer, things can change. Don't take on new credit, don't change jobs if you can help it, and don't make big purchases until completion.
When you've worked through everything in this stage, mark it complete to track your overall progress.
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