Getting an Agreement in Principle
It is always good advice to get an agreement in principle (AIP) when looking for a new property. In order to obtain an AIP there will be a credit search on your name and address. This search will identify whether the mortgage lender will, in principle, agree to lend you the money to buy your new home.
Once an agreement in principle has been reached you will be provided with a certificate of confirmation. This certificate will enable us to prove to the vendor that can afford and are likely to be offered a mortgage. This will go some way to evidencing your position as a strong buyer.
A word of warning though ….. Too many credit searches can adversely affect your credit rating. Be careful not to make multiple applications for different deals. Complete Money will assess your circumstances and use their market knowledge to ensure that they source the deal that is best suited to your circumstances. They will protect your credit rating by only applying for that deal.
If you are successful with your application then no further credit check will be required. In the unfortunate event that the application is declined, then Complete Money will find out why, before you have another check done. You can always apply for your free credit report to see if there is anything on there that you are not aware of, and correct any errors. The mortgage adviser should be able to help you on this.
Peace of mind comes in the knowledge that your broker is regulated by the Financial Conduct Authority. Complete Money have access to a huge range of mortgages from across the market. Speaking to a Complete Money mortgage adviser is simple and completely free.
To get in touch call 0800 130 3089.