Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Mortage in Principle - no letter/certificate?

3 replies

TaleOfTheContinents · 19/03/2020 18:39

DH and I are first-time buyers. Our mortgage advisor got our mortgage in principle today and texted me to say what the maximum borrowing amount was. I asked him whether he'd be emailing over a letter/certificate and he said he wouldn't as that lender only issues 'a confirmation on the system that it's provisionally agreed' and that I should direct any queries from estate agents his way.

Does this sound right? Everything I've read says we would get a letter/document of some sort.

I've double-checked his company is listed with the FCA, just in case, and they are, so he seems legit. He's also attached to an estate agency in my town (although I found him through online recommendations).

OP posts:
ShellsAndSunrises · 19/03/2020 18:43

We didn’t get a certificate, we got a call from the bank with the amount... but we didn’t ask for one, either, to be fair!

LondonMischief · 19/03/2020 18:59

Directing your estate agent to your broker is the best way. The estate will know you have been through a fact find and not just entered some random numbers online to get a Mortgage in Principle certificate.
Also your broker won’t reveal what your max borrowing is. He should just confirm your deposit and MIP will cover the purchase price.

TaleOfTheContinents · 19/03/2020 20:31

Brilliant! It seemed odd to just have to take his word for it, so glad to know it isn't unusual and I can rest easy.

LondonMischief I can definitely see the advantages of that!

OP posts:
New posts on this thread. Refresh page
Swipe left for the next trending thread