When should I get an Agreement in Principle in Worcester?
An agreement in principle (AIP) or a decision in principle is a document thats demonstrates proof to a lender of your income and affordability for a mortgage in Worcester.
Having an AIP is a crucial step in the mortgage process as it enables you to make offers on properties and negotiate with sellers. If two buyers approach a seller, and one has an AIP while the other does not, the seller will likely prefer the buyer with the AIP since they have already been approved in principle and can proceed more swiftly through the mortgage application process.
AIPs are generally valid for 30-90 days and can be renewed upon expiry. You can obtain an agreement in principle by speaking with a mortgage advisor in Worcester.
Follow us for updates
Malcolm's
mortgage guides
