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find out why getting a mortgage agreement in principle

can support your home-buying journey

what’s an agreement in principle?

Think of an agreement in principle as a lender telling you what they’d willing to lend you for the home you want to buy. Although it’s not a guaranteed offer, it will offer you an indication of what you might be able to borrow based on the information you provide. Some call it an agreement in principle (AIP) or decision in principle (DIP) - both are the same concept, but you may hear it referred to by these two names. 
 

your step-by-step guide to securing an agreement in principle

  1. Gather your financial details: Income, expenses, existing debts - get it all together. 
  2. Choose your path: Go directly to banks or team up with a mortgage broker for wider options. 
  3. Fill out the application: Time to put those financial details to work. 
  4. Credit check time: The lender will take a look at your credit history and potentially do a ‘soft credit check’. This will not impact your credit score but double-check this with the lender beforehand. 
  5. Decision day: If all goes well, you will get your agreement in principle, typically valid for 30 to 90 days. 


why should I get an agreement in principle?

There are several reasons why an agreement in principle could be key to you buying a home, including but not limited to: 
  • Showing you’re a serious buyer: Estate agents and sellers will see you as a serious contender when you place an offer on a property. 
  • Clarifying your budget: You’ll know exactly what you can afford, so you can house-hunt with confidence. 
  • Speeding things up: Can make your formal mortgage application smoother and quicker. 
  • Boosting your bargaining power: Strengthens your position when making an offer. 
  • Flagging potential hurdles: Highlights any credit issues early, giving you time to tackle them. 


i have my agreement in principle – what now?

  1. House hunting time: Armed with your budget, start exploring properties that tick your boxes and suit your budget. 
  2. Make your move: Found your dream home? Make an offer with the backing of your agreement in principle. 
  3. Legal support: Once your offer is accepted, instruct a solicitor to take care of the legal side of things. 
  4. Full mortgage application: Time to provide more detailed information and documentation. 
  5. Survey and valuation: Your lender will arrange a valuation but consider a more comprehensive survey too. 
  6. Seal the deal: With all checks complete, exchange contracts and set your move-in date. 
To sum it up, an agreement in principle could be your ticket to a smoother home-buying journey. It gives you clarity, shows you are ready to buy, and can make the path to your new home much easier.  

Got questions about getting an agreement in principle or buying a home? Our team is here to guide you every step of the way.  
 

contact us today 
 

Correct at the time of publishing – 10/03/2025 

Any fees payable will be explained in your initial no-obligation appointment, before you choose whether to use our Mortgage Services. 

Sequence is a trading name of Sequence (UK) Limited which is registered in England and Wales under company number 4268443, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05. For activities relating to regulated mortgages and non-investment insurance contracts, Sequence (UK) Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited’s Financial Services Register number is 302221. MS/SEQ/8052/03.25