What is an "Agreement in Principle"?

Home
Get a Quote
Additional Products
Mortgages
Mortgage Payment Protection
Income Protection
More Information
Life Insurance
Mortgage Life Insurance
Critical Illness
Payment Protection
Income Protection
Mortgages
About Moneynet
Disclosure Document
About Us
Sitemap
Directory

Terms of Business

Network Websites

Express Life Insurance

Brokers Life Insurance

Car Insurance

An "Agreement in Principle" is a preliminary mortgage offer made by a mortgage lender on the basis of the information which you have provided. The Agreement in Principle will usually be subject to the mortgage lender carrying out a full credit check and verifying information which you have supplied, such as checking out your income via payslips or a letter from your employer, and verifying the value of the property which you are intending to buy.

An Agreement in Principle does not mean that you are tied to that mortgage lender. However it's not a good idea to request an Agreement in Principle unless you are seriously considering accepting their offer. (In theory, there's nothing to stop you getting as many mortgage quotes and Agreements in Principle as you like.)

 

 
Please Note:
This web site is owned by Andromeda Webs Ltd. Andromeda Webs Ltd, is an Appointed Representative of Web Publishing House Ltd. Web Publishing House Ltd is authorised and regulated by the Financial Services Authority for insurance mediation.