What is a Decision in Principle

Before applying for a mortgage, and often before making an offer on a property, you may need a mortgage in principle called a Decision in Principle (DIP), sometimes referred to as an Agreement in Principle (AIP) or a Lending Certificate.

With a Decision in Principle you can take the first step to buying or remortgaging your home. Even though a Decision in Principle isn’t required, some estate agents may insist that you have one.

WHAT IS A DECISION IN PRINCIPLE?

A Decision in Principle is a certificate from your mortgage provider stating how much they have agreed, in principle, to lend you to buy a property. It will typically last between 60 and 90 days.

It is not a guarantee that the mortgage provider will lend you this money but rather an indication of the amount the provider would agree to if you were to pass all of their future assessments and checks.

WHY DO YOU NEED A DECISION IN PRINCIPLE?

You don’t necessarily need a Decision in Principle to buy a property, but it can help with the sales process. Estate agents will use it to see if the properties they are showing to you are within your price range, and sellers will use it to judge whether you are a serious buyer. This is particularly useful for first-time buyers, who have no previous history of being accepted for a mortgage.

HOW DO YOU GET A DECISION IN PRINCIPLE?

To get a Decision in Principle you can apply through most mortgage providers’ websites, stating:

  • The amount you wish to borrow
  • The value of the property you wish to buy
  • Your income
  • Your regular outgoings

Many mortgage providers will give you an instant response.

HOW IS THIS DIFFERENT FROM A MORTGAGE APPLICATION?

For the Decision in Principle, a mortgage provider will base their answer on the basic information you supply and a credit check. If you then decide you want to apply for a mortgage with them, you will need to give much more detailed answers to questions about your income and outgoings, and provide evidence, usually in the form of bank statements, bills, payslips, etc.

CAN A DECISION IN PRINCIPLE AFFECT YOUR CREDIT SCORE?

Most mortgage providers require a soft credit check, meaning that it shouldn’t harm your credit score if you fail. Others require a hard credit check, which may have an impact on your credit score if you fail.

If you’re concerned about failing the credit check, find out which type of check your mortgage provider requires, or speak to a broker to find a mortgage provider that only requires a soft credit check. Don’t apply for multiple Decisions in Principle, as several hard credit check failures in a short space of time can be particularly damaging to your credit score.

Before you start your property search or plans to remortgage, it may help to have a clear idea of how big a mortgage you’ll be able to obtain. Getting a Decision in Principle should give you a good indication of how much you might be able to borrow before you submit a full mortgage application and receive a formal mortgage offer.  Because we know which lenders will do hard and soft credit checks, we strongly recommend using an independent whole of market Mortgage Advisor (like us) who won’t charge you a broker fee and can navigate this process with you.

Our Score
Our Reader Score
[Total: 0 Average: 0]

At Yes Mortgage Services, we offer a comprehensive range of products from across the market.

Irrespective of whether you are looking to buy a new home, re-mortgage an existing property, or looking to protect your family from the unpredictability that life throws at it or protect your income if you are unable to work due to accident or ill health.

Yes Mortgage Services are committed to offering you the highest possible standards of service. We can undertake the whole process from answering the initial questions through to handling multiple product applications. Ensuring that everyone gets treated with the same urgency and maintaining your best interests are our main goals irrespective of the value of the mortgage.

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspect of our dealings with you.

Yes Mortgage Services

Contact Us

YES Mortgage Services Limited
The Old Barn
Brooklands Farm
Mannington
Wimborne
BH21 7JU

Hours
Monday – Friday 0900 – 1700

Contacts
0800 612 5596
[email protected]

We don’t charge a broker fee

We are on Instagram
If you're a member of the Armed Forces and need mortgage advice - we're here to support you.⁣
⁣
We're a team of (ex-military) mortgage advisors, who understand the pressures you face and speak your language - from the terminology to the banter of service life. ⁣
⁣
We can even read military pay statements! ⁣
⁣
Visit our website to learn more (🔗 in bio)  or give us a call on 0800 612 5596.⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#raf #britisharmy #royalnavy #britisharmedforces #ukarmedforces #ukveterans #ukaf #forcesfamilies #ukveteranowned #forceshelptobuy

If you`re a member of the Armed Forces and need mortgage advice - we`re here to support you.⁣

We`re a team of (ex-military) mortgage advisors, who understand the pressures you face and speak your language - from the terminology to the banter of service life. ⁣

We can even read military pay statements! ⁣

Visit our website to learn more (🔗 in bio) or give us a call on 0800 612 5596.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#raf #britisharmy #royalnavy #britisharmedforces #ukarmedforces #ukveterans #ukaf #forcesfamilies #ukveteranowned #forceshelptobuy
...

1 0
The underwriting process is when the lender reviews your ability to repay a mortgage and decides whether they will approve the loan. It's a pretty important step in the journey to owning your dream home! ⁣
⁣
Though it may differ slightly between lenders, there are generally three parts:⁣
⁣
• Affordability⁣
⁣
First, the lender will review your mortgage application to assess your financial situation. They'll look at your income, outgoings, and other financial commitments to determine if you can afford the monthly repayments.⁣
⁣
• Creditworthiness⁣
⁣
Next, they'll assess your creditworthiness. They'll scrutinize your credit history and any previous experiences with borrowing money.⁣
⁣
• Decision⁣
⁣
Finally, the lender will make the big decision whether or not to approve your mortgage!⁣
⁣
We’re here to help you through every step of the mortgage process and are always on hand to answer your questions.  Give us a call on 0800 612 5596. ⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.

The underwriting process is when the lender reviews your ability to repay a mortgage and decides whether they will approve the loan. It`s a pretty important step in the journey to owning your dream home! ⁣

Though it may differ slightly between lenders, there are generally three parts:⁣

• Affordability⁣

First, the lender will review your mortgage application to assess your financial situation. They`ll look at your income, outgoings, and other financial commitments to determine if you can afford the monthly repayments.⁣

• Creditworthiness⁣

Next, they`ll assess your creditworthiness. They`ll scrutinize your credit history and any previous experiences with borrowing money.⁣

• Decision⁣

Finally, the lender will make the big decision whether or not to approve your mortgage!⁣

We’re here to help you through every step of the mortgage process and are always on hand to answer your questions. Give us a call on 0800 612 5596. ⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...

1 0
Retirement is an exciting time full of new adventures and quality time with your loved ones.⁣
⁣
But getting a mortgage can be tricky, and that's where retirement interest-only mortgages come in.⁣
⁣
During the term of the mortgage, you'll make monthly repayments to cover the interest. And the outstanding capital you owe will be paid off when selling the house, when you pass away, or if you transition to long-term care.⁣
⁣
If you’re looking for a retirement interest-only mortgage, and want to find out more, tap the link in our bio or call us on 0800 612 5596 to chat with one of our friendly advisors.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#retireuk #retirementuk #retirement #retire #retirementplanning #retirementmortgage #mortgagesuk

Retirement is an exciting time full of new adventures and quality time with your loved ones.⁣

But getting a mortgage can be tricky, and that`s where retirement interest-only mortgages come in.⁣

During the term of the mortgage, you`ll make monthly repayments to cover the interest. And the outstanding capital you owe will be paid off when selling the house, when you pass away, or if you transition to long-term care.⁣

If you’re looking for a retirement interest-only mortgage, and want to find out more, tap the link in our bio or call us on 0800 612 5596 to chat with one of our friendly advisors.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#retireuk #retirementuk #retirement #retire #retirementplanning #retirementmortgage #mortgagesuk
...

2 0
Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your dream home can become a reality!⁣
⁣
Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.

Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your dream home can become a reality!⁣

Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...

1 0
Kelly is our dedicated insurance protection specialist. She joined the team in 2019, bringing nearly 20 years of experience in the financial industry and over 10 years in the protection sector 🌟⁣
⁣
Her drive is to ensure people are protected as she has experienced first-hand how a loss can impact family and everyday life.⁣
⁣
Kelly enjoys spending time with her friends, especially taking her nephews to Bournemouth football matches! And she has the most gorgeous King Charles Cavalier called Rufus 🐶 (who enjoys keeping her on her toes!)⁣
⁣
If you need help deciding which individual insurance, specialist insurance, or general home insurance is right for you give Kelly a call on 0800 612 5596.

Kelly is our dedicated insurance protection specialist. She joined the team in 2019, bringing nearly 20 years of experience in the financial industry and over 10 years in the protection sector 🌟⁣

Her drive is to ensure people are protected as she has experienced first-hand how a loss can impact family and everyday life.⁣

Kelly enjoys spending time with her friends, especially taking her nephews to Bournemouth football matches! And she has the most gorgeous King Charles Cavalier called Rufus 🐶 (who enjoys keeping her on her toes!)⁣

If you need help deciding which individual insurance, specialist insurance, or general home insurance is right for you give Kelly a call on 0800 612 5596.
...

2 0
Not all mortgages are created equal. ⁣
⁣
Let us help you navigate the maze of mortgage options and find the right match that aligns with your financial goals.⁣
⁣
We'll listen to your needs, guide you through the process, and recommend only the most suitable deals. Call us on 0800 612 5596 or send us a DM. ⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes

Not all mortgages are created equal. ⁣

Let us help you navigate the maze of mortgage options and find the right match that aligns with your financial goals.⁣

We`ll listen to your needs, guide you through the process, and recommend only the most suitable deals. Call us on 0800 612 5596 or send us a DM. ⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes
...

2 0
Timing is everything when it comes to renewing your mortgage...⁣
⁣
Starting the process around six months before your current deal ends can prevent you from being automatically switched to your lender's standard variable rate - which is often much more expensive!⁣
⁣
Our team of mortgage advisors are here to guide you through the world of remortgages and answer any questions you have. Click the link in our bio to learn more 🔗 or give us a call on on 0800 612 5596.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.

Timing is everything when it comes to renewing your mortgage...⁣

Starting the process around six months before your current deal ends can prevent you from being automatically switched to your lender`s standard variable rate - which is often much more expensive!⁣

Our team of mortgage advisors are here to guide you through the world of remortgages and answer any questions you have. Click the link in our bio to learn more 🔗 or give us a call on on 0800 612 5596.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...

2 0
A quick guide to the things that can impact the interest rate on your mortgage:⁣
⁣
• Type of mortgage - Variable rate mortgages often offer lower interest rates when compared to fixed-rate mortgages. The reason for this is that with a fixed rate, you're paying for the certainty of knowing what your monthly payments will be.⁣
⁣
• Debt-to-income ratio - This represents the amount you spend each month on debts, divided by your monthly income. Generally, a lower debt-to-income ratio can help you secure better rates.⁣
⁣
• Credit score - A higher credit score typically translates to a lower interest rate, while a lower score may result in a higher rate.⁣
⁣
• Loan-to-value ratio - Calculated as a percentage, the loan-to-value ratio represents the loan amount compared to the value of your house. Generally, a lower LTV can help you secure better rates.⁣
⁣
• Using a broker - Using a mortgage broker can give you an advantage in negotiating favourable mortgage terms. They have insider knowledge of available offers and rate discounts that may not be accessible when applying directly.⁣
⁣
If you're looking to secure a favourable rate, we can offer tailored advice and guidance to help you find the most suitable deal for your needs - and we don't charge a broker fee!⁣
⁣
Give us a call 0800 612 5596 or tap the link in our bio.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes #mortgageinterestrates #interestrate

A quick guide to the things that can impact the interest rate on your mortgage:⁣

• Type of mortgage - Variable rate mortgages often offer lower interest rates when compared to fixed-rate mortgages. The reason for this is that with a fixed rate, you`re paying for the certainty of knowing what your monthly payments will be.⁣

• Debt-to-income ratio - This represents the amount you spend each month on debts, divided by your monthly income. Generally, a lower debt-to-income ratio can help you secure better rates.⁣

• Credit score - A higher credit score typically translates to a lower interest rate, while a lower score may result in a higher rate.⁣

• Loan-to-value ratio - Calculated as a percentage, the loan-to-value ratio represents the loan amount compared to the value of your house. Generally, a lower LTV can help you secure better rates.⁣

• Using a broker - Using a mortgage broker can give you an advantage in negotiating favourable mortgage terms. They have insider knowledge of available offers and rate discounts that may not be accessible when applying directly.⁣

If you`re looking to secure a favourable rate, we can offer tailored advice and guidance to help you find the most suitable deal for your needs - and we don`t charge a broker fee!⁣

Give us a call 0800 612 5596 or tap the link in our bio.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes #mortgageinterestrates #interestrate
...

1 0
We offer appointments outside normal working hours!⁣
⁣
So if you need mortgage advice in the evenings once the kids have gone to bed or at the weekend when you're not busy with work - we are available for you. ⁣
⁣
And the best bit? We don't charge a broker fee!⁣
⁣
Tap the link in our bio to learn more.⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.

We offer appointments outside normal working hours!⁣

So if you need mortgage advice in the evenings once the kids have gone to bed or at the weekend when you`re not busy with work - we are available for you. ⁣

And the best bit? We don`t charge a broker fee!⁣

Tap the link in our bio to learn more.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...

3 0
Buying a house? Here's what you need to know about lender's valuations:⁣
⁣
A lender's valuation helps the mortgage company decide if the house you want to buy is worth enough to secure your loan.⁣
⁣
Exactly what's included varies, but they typically examine the property's type, condition, and sales data of similar properties in the area.⁣
⁣
But, it's important to keep in mind that a lender's valuation isn't a full survey. ⁣
⁣
It can't tell you everything that might be wrong with the house, like whether it has any costly issues that need addressing with the gas or electrics. So, it's usually a good idea to get your own survey done by a reputable surveyor.⁣
⁣
Buying your first home and taking out a mortgage can be overwhelming at times, but we're here to help. Hit follow for more tips or arrange a chat with one of our advisors on 0800 612 5596.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips

Buying a house? Here`s what you need to know about lender`s valuations:⁣

A lender`s valuation helps the mortgage company decide if the house you want to buy is worth enough to secure your loan.⁣

Exactly what`s included varies, but they typically examine the property`s type, condition, and sales data of similar properties in the area.⁣

But, it`s important to keep in mind that a lender`s valuation isn`t a full survey. ⁣

It can`t tell you everything that might be wrong with the house, like whether it has any costly issues that need addressing with the gas or electrics. So, it`s usually a good idea to get your own survey done by a reputable surveyor.⁣

Buying your first home and taking out a mortgage can be overwhelming at times, but we`re here to help. Hit follow for more tips or arrange a chat with one of our advisors on 0800 612 5596.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips
...

1 0
"...There was nothing hidden or any personal gain for the company, just genuinely making sure we got the best we could get under our circumstances. We will be definitely using them again when it comes to the time to remortgage."⁣
⁣
Don't let credit issues hold you back from owning your own home. We have access to a comprehensive panel of lenders, so we may be able to connect you with lenders who are more sympathetic to your situation.⁣
⁣
Visit our website to learn more (🔗 in bio) or give us a call on 0800 612 5596.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.

"...There was nothing hidden or any personal gain for the company, just genuinely making sure we got the best we could get under our circumstances. We will be definitely using them again when it comes to the time to remortgage."⁣

Don`t let credit issues hold you back from owning your own home. We have access to a comprehensive panel of lenders, so we may be able to connect you with lenders who are more sympathetic to your situation.⁣

Visit our website to learn more (🔗 in bio) or give us a call on 0800 612 5596.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...

1 0