What is a Decision in Principle?
A ‘Decision in Principle’ (DIP) provides you with a personalised commitment-free mortgage loan illustration of how much we might be able to lend you. If you're buying a home it'll give you a clear idea of which properties you may be able to afford. Estate agents will often ask to see a DIP to show that you are a committed buyer.
We do what's called a soft credit check as part of the process. This soft credit check can only be seen by yourself on your credit report and does not affect your credit rating or ability to borrow from other lenders or ourselves in the future, even if we can't lend to you on this occasion. After receiving your DIP you can choose to make an appointment to complete the full mortgage application if you wish.
See our guide for more information on a ‘What is a Decision in Principle’