Your home may be repossessed if you do not keep up repayments on your mortgage. Mortgages are secured on your home. Our mortgage products can change or be withdrawn at any time and are subject to underwriting.
Why apply for an Agreement in Principle? (AIP)
Getting an Agreement in Principle is a quick and easy way to find out how much you could borrow before you apply for a mortgage, which will allow you to start looking at homes within your budget.
✓ The application takes approximately 10 minutes to complete (providing you have the necessary information to hand)
✓ It could give you the confidence to put in an offer on a property
✓ We will only do a soft credit check which won’t affect your credit score
✓ There’s no commitment to take out a mortgage with No1 CopperPot
Frequently Asked Questions
We’ve answered some of our frequently asked questions below, however if you would like to speak to one of our Mortgage Advisers to find out more, you can request a callback for a time that suits you.
What is an Agreement in Principle?
An Agreement in Principle (also known as a Mortgage in Principle/Decision in Principle) is an informal indication of how much a lender could potentially allow you to borrow to purchase or re-mortgage your home.
What information will you require from me?
We need some basic information from yourself and any additional applicant which includes income, credit commitments and address history for the previous 3 years. An application for an Agreement in Principle is not as extensive as a formal mortgage application and should take approximately 10 minutes to complete, provided you have all the necessary information to hand.
How long does an Agreement in Principle last?
Your Agreement in Principle will last for 90 days, provided all of the details you provided have remained the same throughout this period (including your income). If you’re planning to start looking for a property anytime soon, it may be a good idea to get an Agreement in Principle in place. Whilst it isn’t compulsory to have an Agreement in Principle in order to view properties, it can show estate agents and sellers that you are serious about buying.
Could applying for an AIP affect my credit score?
There is no impact on your credit score. We will carry out a soft search so that we can verify certain details about your application with a credit reference agency.
Apply for an AIP
Click the button below and complete the form to request an AIP. A Mortgage Adviser will deal with your request as soon as possible and provide an estimate of how much you can potentially borrow to purchase a property, this is not a mortgage offer or an official confirmation that you have a mortgage.
Please be aware that this amount may increase or decrease on completion of a full affordability assessment.