Agreement in Principle London
Get an Agreement in Principle from an independent whole-of-market adviser — soft credit check, typically within 24 hours.
Get Your AIP TodayWhat Is an Agreement in Principle?
An Agreement in Principle (AIP) — also called a Decision in Principle (DIP) or Mortgage in Principle — is a written confirmation from a mortgage lender that, based on an initial assessment of your income and credit history, they are likely to lend you up to a specified amount. It is not a binding mortgage offer, but it is an important step that demonstrates your seriousness as a buyer and gives you a clear maximum budget before you start viewing.
In London's competitive property market, having an AIP in place before you make an offer is strongly advisable. Many estate agents and sellers take buyers more seriously when they can demonstrate finance is arranged. For higher-value properties or in competitive multiple-offer situations, an AIP from a reputable lender can make a genuine difference.
AIP vs Mortgage Offer — the difference
Agreement in Principle
- ✓ Preliminary lender assessment
- ✓ Based on income declared and soft credit check
- ✓ Available quickly — often within 24 hours
- ✓ Gives you a borrowing ceiling for property search
- — Not legally binding on the lender
Full Mortgage Offer
- ✓ Formal commitment from the lender
- ✓ Based on full income verification and valuation
- ✓ Legally binding — the lender will lend the stated amount
- ✓ Required for exchange of contracts
- — Takes 2-6 weeks from application
Why Get Your AIP Through an Independent Adviser?
The right lender from the start
Going directly to your bank gets you one lender's AIP. Going through an independent adviser means your AIP comes from the lender whose criteria best match your income, property type, and circumstances. This reduces the risk of issues at the full application stage.
Soft credit search — no footprint
We arrange AIPs using soft credit searches wherever possible, which do not leave a mark visible to other lenders. Multiple hard credit searches (which happen if you approach several lenders directly) can negatively affect your credit score.
Accurate maximum borrowing
Our AIP reflects a thorough assessment of your income and outgoings — not just a quick headline figure. This means the maximum shown is realistic and you won't be disappointed when you come to make a full application.
Ready to apply when you find the property
Once you have your AIP, all your documentation is gathered and we're ready to submit a full application immediately when you make an offer. In competitive situations, speed of application matters.
What You Need for an Agreement in Principle
To arrange an AIP, we need the following information. The more complete your details, the more accurate your AIP will be and the smoother the transition to a full application.
Personal details
- ✓Full name and date of birth
- ✓Current and previous addresses (3 years)
- ✓Employment status and employer details
Income details
- ✓Annual salary / self-employed income
- ✓Bonus, commission, or overtime
- ✓Any other income (rental, investments)
Financial position
- ✓Deposit amount and source
- ✓Existing debts (loans, cards, HP)
- ✓Monthly outgoings and commitments
Agreement in Principle FAQs
What is an Agreement in Principle?
An AIP (also called a Decision in Principle or Mortgage in Principle) is a written statement from a lender that they are likely to lend you up to a specified amount, based on an initial assessment. It is not a binding mortgage offer but confirms your borrowing capacity and demonstrates to sellers that your financing is in place.
How long does it take to get an AIP?
We can typically arrange an Agreement in Principle within 24 hours of receiving your details. In urgent cases — for example, if you need one before a viewing or offer deadline — we can often act faster. Contact us and let us know your timeline.
How long does an AIP last?
Most AIPs are valid for 30-90 days. If your property search takes longer, we refresh your AIP to ensure it remains valid. We monitor this for you and renew proactively — you don't need to keep track yourself.
Will getting an AIP affect my credit score?
An AIP arranged through a soft credit search does not leave a mark visible to other lenders, so it will not affect your credit score. We use soft searches for AIPs wherever possible. A hard search is only required when you submit a full mortgage application.
Can I get an AIP if I'm self-employed?
Yes. Self-employed buyers can get an AIP, though the income assessment is more detailed. We need your most recent SA302 forms and Tax Year Overviews to assess your self-employed income accurately. We identify which lenders will assess your income most favourably before arranging your AIP.
Does an AIP guarantee I'll get a mortgage?
No. An AIP is a preliminary assessment. The full mortgage application involves complete income verification, a property valuation, and detailed underwriting. Issues can arise — for example, if the property valuation is lower than the purchase price, or if something emerges during underwriting. We advise on any risks before you make an offer.
Important:
Your home may be repossessed if you do not keep up repayments on your mortgage.
Need an Agreement in Principle in London?
Contact Roger Cooper CeMAP — independent, whole-of-market, soft credit search. Typically within 24 hours.
Mortgage International Ltd · FCA Ref 478810 · 207 Regent Street, London W1B 3HH