If you have an agreement in principle and decide to make a full application to this lender, you must provide more detailed personal information. The lender is not required to lend you the full amount described in the AIP. It`s important to remember that in principle, an agreement is not a mortgage offer or an official confirmation that you have a mortgage. To get this, you need to go through the entire application process. The purpose of an agreement in principle is to give the lender an initial and timely guarantee of its willingness to lend. It is about communicating solid facts about the applicant`s personal circumstances. Once you have your agreement in principle, you can look at real estate that falls within your specific price range; That is, the amount you could borrow, plus any deposit you might have saved….

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