Cashback Remortgages · First-time buyers
Why an Agreement in Principle Is Not Final Approval
An agreement in principle is a useful early step, but it is conditional and time-limited. Treating it as a guaranteed offer is a common and costly misunderstanding.
What it is and is not
An agreement in principle indicates what a lender might lend based on early information and checks. A full application then includes document verification, deeper assessment and a property valuation.
A change in your circumstances or a down-valuation can still affect the outcome.
Using it well
Use accurate figures so it reflects reality, and ask whether a soft or hard credit search is used. Tell your adviser about anything that changes before completion.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.