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| Mortgage Agreement in Principle |
Would you like confirmation that you can obtain a mortgage before you find a property?
An “agreement in principle” is a provisional lending decision with a mortgage lender confirming that they will lend you a specified sum of money.
- There is no charge for the agreement in principle
- We are often able to obtain an agreement in principle the same working day*
- You have no obligation to apply to the lender who provides the agreement in principle when you find a property you wish to buy
- The agreement in principle is not legally binding on the lender and the agreement is subject to the valuation of the property and proof of income, as well as any references requested by the lender
How to apply
We recommend that you contact us to discuss your mortgage requirements and whether an agreement in principle will suit your circumstances. The agreement in principle can be completed over the phone (0800 756 9556) or we can email you a short form to complete.
* A mortgage lending decision is often available within a matter of hours during standard office hours. Dependent on your situation and the lender used to obtain an agreement in principle, the lending decision may take longer to obtain. If you require an agreement in principle urgently, please inform your adviser when first contacting us.
| How we can help: |
Arranging a mortgage doesn't need to be daunting or stressful. We offer mortgage and remortgage advice to borrowers looking to buy a property and to clients who want to review their existing mortgage arrangements. Your dedicated adviser will reduce the time and hassle in applying for a mortgage by dealing with the mortgage lender throughout the mortgage application process. If you are thinking about moving home or would like us to review your existing mortgage, why not call us to discuss your options and let us research the market for you.
Remember, our service is impartial, we work for you not the lender. For further information visit our about us page or why not take a look at what some of our customers have to say about our service.
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Call us on 0800 756 9556 |
| Frequently Asked Questions: |
Is an “agreement in principle” a good idea?
Generally yes, a provisional mortgage agreement may strengthen any offer you make to buy a property and it also removes any uncertainty you may have about whether you qualify for a mortgage.
Are there any downsides?
An agreement in principle involves a credit search and most lenders leave a record of this search on your credit file. Multiple credit searches within a short period of time may reduce your credit rating; for this reason we usually recommend that you only obtain one agreement in principle.
Reserving a mortgage product:
An agreement in principle does not reserve a mortgage product. The final decision regarding which mortgage lender has the most suitable product will not be made until you are ready to proceed with a full mortgage application.
How to apply
We recommend that you contact us to discuss your mortgage requirements and whether an agreement in principle will suit your circumstances. The agreement in principle can be completed over the phone or we can email you a short form to complete.
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For impartial advice |
0800 756 9556
Our telephone lines are open:
Monday to Friday: 8.30am until 5.00pm
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Smaart Associates is authorised and regulated by the Financial Services Authority and is entered on the FSA Register (www.fsa.gov.uk/register) under reference 300530. The FSA does not regulate credit cards, personal loans or some investment mortgage contracts. Some Buy To Let mortgages are regulated by the Consumer Credit Act (CCA).
By following some of the links from this site you may be directed to services provided by a third party. Where this occurs we are not responsible for the information provided and accept no responsibility for its accuracy.
Smaart Associates Limited is registered in England No: 4325522. Loans are subject to status, type and value of property. Insurance may be required. Minimum age 18.
The guidance contained within this website is subject to the UK Regulatory regime and is therefore primarily restricted to consumers based in the UK.
Head office:
Smaart Associates Limited
Sandy Farm Business Centre,
The Sands,
Farnham, Surrey,
GU10 1PX
Registered office: 6a Dickensons Place, London, SE25 5HL
Meetings by appointment only
Telephone calls may be recorded for training and monitoring purposes
As a mortgage broker we receive a fee from lenders with whom we place mortgage business. We arrange mortgages from £40,000 upwards with no broker fee as we keep the commission paid to us by the mortgage lender.