House Buying Journey Moving boxesSecuring Your Mortgage: AIP and Full Application Explained


Your house buying journey starts with a Mortgage in Principle (MIP), also known as an Approval in Principle (AIP), it’s a formal document, issued by a mortgage provider that outlines how much you could borrow, should you apply, based on the information provided.

Obtaining a Mortgage in Principle (MIP) / Approval in Principle (AIP) can make your property search a lot easier and hopefully, lead to a quicker turnaround when you make an offer via an Estate Agent.

Additionally, going through this process will allow you to get a greater understanding of potential mortgage costs and establish what is realistic and affordable for you.

In order to get your MIP / AIP, there’s a number of questions to answer and documents to be provided, if you schedule a call or meeting with one of our experienced Advisers, we can walk you through the process and cover any questions that you may have.

The questions from the lender will vary but could include such things as;

  • Whereabouts are you searching for a property?
  • When are you hoping to buy a property?
  • Are you buying the property alone or with someone else?
  • Details about your income and monthly outgoings

Whilst at this stage of your house buying journey,  the provision of documents is not essential, it does help us to ensure that we obtain the most accurate decision for you, so we often ask for supporting documents at this stage.

Whilst you could look to obtain a decision yourself, lenders are increasingly changing their policies and by using Hallcroft Finance, we can ensure that the decision obtained is relevant and one that can be progressed to application when required.

It’s also worth noting that upon conversion of a MIP / AIP to a full application, we will always research the lenders available again to ensure the lender recommended for your full application is the most competitive deal available for you.

To set up a meeting, contact Andrew for a no-obligation introductory call.