The lender does a quick credit check to see if she is likely to be accepted.
With this in hand, she can start her formal application and confidently proceed with her solicitor as discussed further in the video. Principle 6.28
Within a few minutes, the lender gives her a document stating that they are prepared to lend her a specific amount (e.g., The lender does a quick credit check to
This isn't a final loan offer, but it is a vital document. It shows sellers that Sarah is a serious buyer, making her offer stronger than someone without one. This isn't a final loan offer
In short, "Principle 6.28" represents the crucial "pre-approval" stage in a mortgage journey. How an AIP differs from a ?