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  • Mortgages & Finance

    Mortgage in principle

    Hi .

    Need some clarification regards Mortgages.

    Do mortgages in principle still happen.?

    I only ask because i enguired some time ago and was informed that they don’t.

    How is it best to go about getting a mortgage in place to find a property after the mortgage application.?

    Thank you in advance

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    Hi Tefik,

    I believe you are referring to "Decision in principle" and these still happen.

    A DIP is not a mortgage offer, it is just an indication from the lender that they will lend to you based on your circumstances and the profile of the property you are thinking of buying, following the fact find by the mortgage broker.

    Once you have a DIP, you can go and look for a suitable property or continue on with the one that prompted the DIP, and convert the DIP to a full mortgage offer.

    A reputable broker like the team at Property Tribes Financial Services on 01206 654444 will assist you with all aspects of your mortgage application.

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