When should I get an agreement in principle in Tamworth?
An agreement in principle, otherwise known as an AIP is a document that you will need to support your offers whilst looking for properties in Tamworth. AIPs confirm that lenders are willing to lend to you given that you can prove your income and affordability.
In a situation where two potential buyers are interested in a property, and one has an AIP while the other does not, the seller will usually select the buyer with an AIP, as they have already been pre-approved, making the process quicker.
Your AIP will remain valid for 30-90 days, once it expires, you will need to apply for a renewal. Luckily, our mortgage advisors in Tamworth are able to turn around an AIP within 24 hours of your mortgage appointment; just get in touch with our team and we’ll be more than happy to help!
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