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Can you have agreements in principal from two lenders?

7 replies

okeypoke · 10/08/2020 11:43

I have a mortgage with lender A with 3 years left on the deal so it would cost me £5k to leave.

I want an offset mortgage with lender B but they don't tell you if you can definitely have that until after you have offered on a property.

Long term I'd save way more than the £5k so would prefer mortgage B but if it turns out I can't have the offset then I'd stay with current lender and save £5k.

Would I be able to have agreements in principal from both?

OP posts:
Burnout101 · 10/08/2020 11:45

Why do you need an AIP from A if you're already with them and, if B didn't work out, will stay with them?

okeypoke · 10/08/2020 11:46

Because I need to know they'll lend me the extra? I need to borrow about £100k more!

OP posts:
okeypoke · 10/08/2020 11:46

I should've said I'm changing lenders to move.

OP posts:
Burnout101 · 10/08/2020 11:47

Ah right, it reads like you just want to switch deal, are you looking to move?

Burnout101 · 10/08/2020 11:48

I think you can have more than one AIP for looking to move.

bookgirl1982 · 10/08/2020 11:53

Yes you can have as many as you like. Repeated credit checks aren't great so best to aim for one or two banks that you meet the criteria for.

okeypoke · 10/08/2020 11:58

Yes I'm moving.

It would just be the two banks.

No point moving banks and incurring £5k fee unless it's for the offset one.

OP posts:
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