When should I get an agreement in principle in Shrewsbury?
To support your property offers in Shrewsbury, you will require an Agreement in Principle (AIP), also known as a mortgage in principle. AIPs serve as confirmation that lenders are willing to lend to you provided that you can demonstrate your income and affordability.
In a situation where multiple buyers express interest in a property and only one has an AIP, the seller is more likely to choose the buyer with an AIP as they have already received pre-approval, making the process more efficient.
An AIP is valid for 30-90 days, and once it expires, you must apply for a renewal. Fortunately, our mortgage advisors in Shrewsbury can generate an AIP within 24 hours of your mortgage appointment. Contact our team, and we will be delighted to assist you!
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