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The YouMove Guide to Buying
Mortgage in Principle
We've covered the topic of mortgages in our separate "Guide to Mortgages".
Still, it's worth mentioning the importance of getting a "mortgage in principle" before you go house hunting.
A mortgage in principle is an agreement by your lender that they will offer you a mortgage subject to certain conditions — including a successful credit check and property valuation.
Having a mortgage in principle means that:
- sellers will take you more seriously, putting you in a stronger bargaining position
- you're less likely to lose out if there's a race to get a certain property
