Mortgage in principle, so confused! Need help!

[BellaLinnea]

Hello,
So I've been offered a mortgage in principle of a maximum of £126350 with a 10% deposit. Does this mean I should look at houses no higher than that price or will they loan me that amount if it's a higher value property providing I provide 10% deposit?! For example if i was looking at a £135k property and had the £13500 deposit would they loan me the rest?

That's how much they will lend you

They will lend you £126,350 total, based on your financial position/information you likely gave them. You can look at any property, but will have to make up the difference!

Bear in mind that a DIP is the very start and once your finances have been scrutinized by the lender/underwriter this figure may change. Also it's worth looking around as different lenders have different criteria for lending/calculating expected borrowing.

I'd always suggest a broker when looking to secure a mortgage. The cost can vary wildly, but they're generally a good idea to help you make the right choice for your circumstances.