How to get an Agreement in Principle

At Greenacre Financial Services we offer independent, whole of market mortgage advice with access to over 100 lenders throughout the UK.

What is an Agreement in Principle?

When you apply for a mortgage, you start with an initial step known as a Decision in Principle (DIP), Mortgage in Principle (MIP) or Agreement in Principle (AIP). This process involves the mortgage lender assessing your credit history and financial situation to determine the maximum amount you can borrow.

Once you have an Agreement in Principle, a mortgage promise, you can proceed with your property search. When you have found a property you like, you can submit the full mortgage application to the lender. During this stage, the lender will conduct a comprehensive credit check, review your financial details and carry out a valuation on the property before making an official mortgage offer.

Keep in mind that the credit checks during the application process can affect your credit score, so it’s crucial to be cautious when applying for multiple mortgages within a short period. An estate agent may ask to see your Agreement in Principle (AIP) to gauge your seriousness as a buyer and increase your credibility during negotiations.

It’s also worth noting that the Agreement in Principle (AIP) typically remains valid for around 90 days, so if you don’t find a suitable property within that time frame, you may need to renew it with the mortgage lender. It is crucial to carefully assess your financial capabilities to make sure you can keep up with the repayments on your mortgage.

Greenacre’s AIP service

We can play a vital role in helping you secure an Agreement in Principle for your mortgage application. We will begin by understanding your financial situation and preferences, conducting extensive research in the mortgage market to find suitable lenders and products.

We will run through an affordability check with you to understand your circumstances and advise you on how much you can borrow. There are over 100 lenders in the UK and each has their own affordability model. Each will lend you a different amount and it’s important we find the right lender for you based on affordability, price and criteria. We will then make our recommendation to you and proceed to organising your agreement in principle.

Once we have gathered the necessary documentation, we will submit the mortgage application on your behalf and liaise with lenders throughout the process. We will handle credit checks, instruct the valuation, and ensure the application is presented accurately to the lender.

Greenacre will provide personalised advice and recommendations based on your specific financial circumstances and goals. We will streamline the application process, saving you time and effort, and increasing your chances of obtaining a favourable AIP.

Even after receiving the AIP, we will continue to support you during your property search and through the full mortgage application when you find a suitable property. Our expertise and access to over 100 UK lenders will enhance your chances of securing a mortgage that suits your needs and financial situation.

To get an agreement in principle with Greenacre Financial Services, Contact Us today.

Contact Us

For more information about any of our services, please don’t hesitate to get in touch by calling us on 0203 3939 222 or by filling in the form below.

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    Hannah D
    Hannah D
    07:42 09 Sep 19
    I would fully recommend Greg and Greenacre Financial Services. As a first time buyer I was daunted by the process of... finding the right mortgage for me however Greg made the process really simple, clear and quick. He was always available to answer any questions and happy to explain everything. I wouldn’t hesitate in recommending Greenacre FS to my friends and more
    Jessica Cohen
    Jessica Cohen
    19:33 26 Aug 19
    We first met with Greg in May for advice as we had adverse credit and irregular pay and didn't think a mortgage was in... our reach. Less than two weeks later Greg had fully arranged a great deal for us on our first mortgage. He was available whenever we needed him, 7 days a week and in the evenings. We cannot thank Greg enough for helping us buy our first home!read more
    Seren Fletcher
    Seren Fletcher
    08:56 24 Aug 19
    Would highly recommend Greg and Greenacre Financial Services. Was extremely professional and helpful. Our mortgage... wasn’t straight forward due to my husband being self employed but Greg was very knowledgable and managed to find us a really good mortgage. Looking forward to working with him again in the futureread more
    13:24 23 Aug 19
    Graham at Greenacre was excellent in helping me get a mortgage for my house purchase. He was always available when... needed, provided an efficient service and was very knowledgeable. Highly recommended!read more
    Ian Hatter
    Ian Hatter
    11:07 16 Aug 19
    What can I say, Greg has been absolutely amazing in sorting out a mortgage for me I never thought was possible. It has... meant I have been able to buy a house, a few months ago, I would never have dreamed of being able to buy after talking to high street lenders. He worked exceptionally hard and always kept me updated with every step of the process. Buying a house is extremely stressful, but Greg took all that stress away from me. I cannot recommend Greg enough to anyone looking to buy a property. Thank you so much for your help Greg, it's greatly more
    Sean Kelly
    Sean Kelly
    15:27 30 Jul 19
    10/10 EXCEPTIONAL service and result. Highly recommend. Greg and the Greenacre Financial Services team were fast,... knowledgeable, and honest. All the qualities you want and need. Very pleased I was recommended to Greenacre. Customer for life!read more
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