While we have to protect each other by staying at home, we cannot accept applications in the sector. Please call us to apply if you need advice. If you want to apply without advice, you can apply online. We`ve made your DIP part of the application process, so it`s only an application from the beginning of your purchase trip to the end. Find out how much you can borrow, stop your app and if you`re ready to apply for a full mortgage, restart where you left off. The size of your contract can in principle be a useful indicator of how much you can borrow. You can use it to search for real estate in your price range. You are not committing to anything at this point – you are not bound by a certain type of agreement if you decide to apply for a mortgage from us. Keep in mind that an AiP is not a guarantee we lend you. Make sure you get advice on products and lenders before pursuing an agreement in principle, as you can leave a soft or hard footprint in your credit file. If you apply for an PIA, the lender will check your credit file to determine if you have the right to borrow from them and if they are willing to borrow the amount you need. It is important to remember that, in principle, an agreement is not a mortgage offer or official confirmation that you have a mortgage.
To do this, you must go through the full application process. This should not be too problematic if you only ask for one or two AIPS. However, with multiple credit requests to search on your file in a short period of time can be a red flag for anyone who can decide if you can borrow in the future. You don`t need to go through the full application process to get an agreement in principle. This will come later if you have accepted an offer on a property. If you apply for a mortgage, your mortgage must be completed by March 31, 2021 to qualify for stamp duty. There are a few lenders who only do a gentle search, which does not affect your creditworthiness. Talk to a broker to find out which lender you can apply for because of your personal circumstances. Realtors will often want to make sure that you will be able to get a mortgage on a property before making an offer, so it may be helpful to have an agreement until that date. If you remortgaging, there is less need for this information, so you would file an agreement in principle once you have chosen a lender and a product. Before you apply, you need a DIP. Also known as an agreement in principle (AIP) or a loan certificate, this confirms what we would be willing to lend you.
If you receive a DIP, we only do a gentle credit check that doesn`t affect your credit score.