UK Mortgage Questions

What is a mortgage in principle?

This is a conditional offer made by a mortgage lender that – provided the information you give them is correct – they will “in principle” give you the loan you have discussed with them.

It’s very useful to have one before you even start looking for a house to give you the edge over any competition. Having one means you should be able get the actual mortgage quicker when the race to buy your chosen home begins.

Knowing what you can afford will help you narrow your search. You can get this offer in writing to show to Estate Agents and sellers who will see you as a serious prospect and not a timewaster who’s interested, for example, in looking around peoples’ homes for a laugh.

To get a mortgage in principle you have to go through the same motions as an actual mortgage, ie consider what type of mortgage you want and then find a mortgage lender you feel can offer you the best deal. See How to get a mortgage

You should be able to get a mortgage in principle offered over the phone. It’s only when applying for the actual mortgage that the mortgage lender will want to see the proof of your pay etc.

I’ve read enough for now and want to get a free Quick Mortgage Quote

How to check your credit rating


For £2 you can get details of the credit files held on you by either of the two credit reference agencies,Experian and Equifax.

If the information on your file is wrong, or if you would like to add a note of explanation, Either of them will add an agreed statement to your file.

Experian, PO Box 8000, Nottingham NG1 5GX

Equifax Europe, Department 1E, PO Box 3001, Glasgow G81 2DT.