So we are applying for a shared ownership mortgage DIP and the mortgage advisor has said the following
"received a response from one of the lenders - they've asked that I submit a decision in principle for you which can then be forwarded to their underwriters for review to check they'd be OK with your application initially."
Firstly, is this good or bad?
Secondly, how long does underwriting of decision in principle take?
Mortgage advisor feedback on this would be valued!
Thanks