What is a Mortgage In Principle?
A Mortgage in Principle (MIP), also known as an Agreement in Principle (AIP) or Decision in Principle (DIP), is a statement from a lender indicating how much they may be willing to lend you for a mortgage.
It's not a guarantee that you'll get a mortgage, but it shows estate agents and sellers that you're a serious buyer who has taken steps to secure funding.
Benefits of Getting a Mortgage In Principle
Know Your Budget
Understand exactly how much you can borrow before you start house hunting.
Strengthen Your Offer
Sellers and estate agents take you more seriously when you have a MIP in place.
Speed Up The Process
Having a MIP ready can help speed up the mortgage application when you find your dream home.
No Credit Impact
Soft credit checks used for MIPs don't affect your credit score.
Free & Quick
Get your decision in minutes, completely free of charge.
Valid for 90 Days
Most MIPs are valid for 60-90 days, giving you time to find the right property.
How to Get a Mortgage In Principle
Fill In Your Details
Provide basic information about yourself and your finances
Quick Credit Check
We perform a soft credit check that won't affect your score
Get Your Decision
Receive your decision in principle within minutes
Start House Hunting
Use your MIP to show sellers you're a serious buyer