Mortgage in principle

Last Updated: 29th Apr, 2024

Author: Charlotte Burton

Mortgage in principle

A Mortgage in Principle (MIP) is a statement from a lender that, in theory, they would lend you the specific amount you requested to you based on information you self-reported to them. They are sometimes called an Agreement in Principle (AIP) or Decision in Principle (DIP).

Even with a Mortgage in Principle, a lender can still decline your full mortgage application later on despite giving you a mortgage in principal.

Top tips

  • Check if the mortgage in principal application will conduct a hard credit check on you or not. If you have too many hard credit checks within a short period of time, your credit score may get worse, impacting how much money you could borrow for your full mortgage application
  • Lenders tend to use the electoral roll to check your identity - so make sure you’ve registered to vote if you’re eligible to. You can register at
Fairy Godmover Waving

Let's plan your next steps!

Hello, I'm your Fairy Godmover 👋 I'm here to guide you through your home buying process. Let me make you a checklist of everything you'll need to do, and guide you step by step.