How long does a first-time buyer mortgage application take to be approved?
Typically, first-time buyers have a mortgage agreement in principle (AIP) approved – a document from a lender that states how much they’re willing to let you borrow – anywhere between a matter of minutes to 24 hours of supplying the relevant information. If a lender or a mortgage advisor requires additional details before making a […]
What Is an Agreement in Principle?
If you’re starting your home-buying journey, you’ve likely come across the term Agreement in Principle, sometimes shortened to AIP, or known as a Mortgage in Principle. But what does it really mean, and why do you need one? In this guide, we’ll break down exactly what an Agreement in Principle is, how it works, how […]