A Puppy and a girl playing

Mortgage in Principle

Our mortgage advisers can provide you with a mortgage principle which will have no effect on your credit.  Get a mortgage in principle within principle in an hour here!


In this guide you will learn

·   What is a Mortgage in principle?
·   Do you need a mortgage in principle?
·   When you should get a Mortgage in principle?
·   How to get a mortgage in principle
·   Frequentlyasked questions
0208 191 0007

A man walking
A terraced House

Feature section

If you’re currently busy house-hunting, you may have been told by someone that you need a “mortgage in principle”. You may ask, what is it and how can you get one? Here we will go into more depth on everything you need to know about a “mortgage in principle”.

What is a mortgage in principle?

A mortgage in principle (MIP) is a demonstration from your building society or bank usually written letting you how much they are willing to lend you. The mortgage in principle will normally come in the form of a written statement or certificate and is done before you make a full mortgage application, however, some lenders a mortgage in principle may not issue it a written version. The MIP is also referred to as Agreement in Principle (AIP) or Decision in Principle (DIP).

Just because they have issued the mortgage agreement in principle, it is not a binding agreement  and the lender can still refuse you a mortgage on their terms set out however, it’s a useful indicator of what you could possibly borrow.

TheAIP/MIP is evidence to any estate agent or seller that you are a serious buyer.This will make them a little relaxed when you’re they’re discussing available properties with you and not time wasting.

Do you need a mortgage in principle?

Perhaps you’re asking yourself why do I need an agreement in principle and not a full application. I’m sure it would be easier to go ahead with a full application instead. Well, while an agreement in principle isn’t obligatory, there are a few very good reasons why you should apply get an agreement in principle first.

Learn how much you can borrow

Estate agents will take you more seriously

You can reduce the risk of a mortgage rejection

When should you get a mortgage in principle?

Having recognised the advantages of a mortgage in principle, this could be the next question to ask yourself. In reality, you should apply for the AIP before you go house hunting.

The mortgage in principle can also save time with the agents or sellers. You would be more likely to get your offer accepted if you have an AIP to hand and will also speed up your mortgage application process. Find out here: 


However, before you do apply for a mortgage in principle, you should do the following.

Things to do before you apply for a mortgage in principle.

Make sure you are on the electoral roll

Get your financial house in order

After you do these tasks then begin your search for a mortgage broker to search the mortgage market for the bank or building society with the best deal. Once this is done, you can get your mortgage principle underway.

A mortgage broker office

How to get a mortgage in principle

Getting an agreement in principle is not a difficult task. You can get it from any mortgage bank, building society, mortgage broker or lender. It is often better to use a mortgage broker for your AIP, because they have access to a wider range of rates and deals than you would get from the high street bank or online. Azembel mortgage brokers can find the best rate within seconds.

The things need at hand when applying for a Mortgage In Principle
When getting a mortgage in principle, the questions you will be asked will be similar to those when you apply for a full mortgage application. Such as

Frequently Asked Questions onMortgage in Principles


Azembel Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. Registered address 71-75 Shelton Street, Covent Garden, London, WC2H9JQ Registered No. 926051.