If you’re house hunting in Hampshire or Surrey, one of the smartest early moves you can make is getting a mortgage in principle once you’ve saved up for the all-important deposit.
It’s not the final mortgage, but it’s a powerful tool that can give you an edge — especially in competitive local markets like Fleet or Woking.
Here’s what you need to know.
What Is a Mortgage in Principle?
A mortgage in principle (sometimes called an Agreement in Principle or Decision in Principle) is a statement from a lender saying they’re willing to lend you a certain amount based on a few checks — usually your income, credit score, and some basic financial details.
It’s not a guaranteed offer, but it shows what you’re likely to be approved for when you make a full application.
Why It’s Important
- It shows you’re serious.
Sellers and estate agents take you more seriously. It proves you’re ready to move quickly.
- It sets a clear budget.
Knowing what you can realistically borrow helps narrow your search and prevents you from falling in love with out-of-reach homes.
- It can speed things up.
Once you find the right property, having a mortgage in principle can shave days off your timeline. You’ll already have some of the legwork done.
- It strengthens your offer.
In a competitive market, sellers may favour a buyer with a mortgage in principle over someone who hasn’t even started the process.
How to Get a Mortgage in Principle
- Choose a lender or broker
You can apply directly to a bank or building society or use a mortgage broker who will search the market for you.
- Provide some basic details
You’ll usually need to share your income, employment details, outgoings, credit commitments, and deposit amount. Most lenders will do a soft credit check (it won’t affect your score).
- Wait for approval
If you apply online, you’ll typically get your mortgage in principle the same day — often within minutes.
- Keep it handy
Most are valid for 60 to 90 days. You can always request a new one if it expires before you make an offer.
Final Tip
Even though it’s not a full mortgage offer, don’t apply for multiple Agreements in Principle within a short time — too many credit checks can raise red flags. Work with a trusted broker to get it right the first time.
At Christopher Anthony Property, we work with trusted mortgage brokers who can help you secure your mortgage in principle quickly — often on the same day. We’ll also help you use it to your best advantage when making an offer. Contact us today!
