Agreement in Principle.

An Agreement in Principle will help you search for a property in your price range. It may also help you negotiate a better price with the seller because they know you can get a loan.

Your home may be repossessed if you do not keep up repayments on your mortgage.

An Agreement in Principle, sometimes called a Mortgage Promise, is useful if you haven’t found a property you want to buy but would like to know how much you could borrow. All we need is a few personal details about you and anyone else who will be named on the mortgage.

Then we will contact a credit reference agency for a soft credit check and give you a credit score. If you reach our pass mark, we will give you a certificate so that you can show the seller you can get a loan.

Soft credit checks do not affect your credit rating or ability to borrow from lenders in the future. Soft credit checks are not seen by other lenders and can only be seen by you on your credit report.

While we aim to lend you the amount agreed in principle, sometimes we may not be able to lend you as much as this if:

  • any of the details you give us change
  • anything about you has changed at the credit reference agency when we make a full loan application search at the time you apply; or
  • following our discussion with you about your needs and circumstances, we find that we do not have a suitable mortgage for you.

We’ll base our Agreement in Principle on the maximum loan we think you can afford. It won't take into account the type of property you eventually buy or if you buy under certain Schemes such as Help to Buy. Sometimes the amount we’re prepared to lend may change depending on the property you choose. This is because we expect you to put down a bigger deposit on some types of property than others.

Apply for an Agreement in Principle