Mortgage after AIP. Please advise.

[yoyoman]

We have had mortage agreed in principle and now put in a full application.

Has anyone had a mortage declined after an AIP was given ?

What were the reasons?

I am beyond stressed! I vow to not move again for a very long time

We haven't had a mortgage declined but we've had the amount reduced after an aip. Was about 10k less.

I had a 5% mortgage agreed for a shared ownership property however pulled out of this before exchange due to finding a cheaper property in a much nicer area. The mortgage company said I would be able to transfer over the mortgage offer but with a 10% deposit but would have to send through new play slips as there had been 5 months since the initial application. However after this, they turned me down for a mortgage on the second property saying that it was "too risky" despite having waaaaay cheaper monthly payments and me having more in my savings. I did go with another lender after this and was approved within a day so I think it must just depend on the lender and their criteria ☺️

If the figures you submitted for salary/expenses in support of the AIP were accurate & you don't have any issues that will be brought up in a credit check - past defaults etc, you should have no issues converting to a full offer.

This was me last week. I had an AIP but was beyond stressed when I made application. My application was approved subject to property valuation just a day after we made the application. Valuation was done the following week and had my offer documents that same evening. It is stressful and you play every possible scenario in your head but I wanted to try and put your mind at ease

@Hallyup6

We haven't had a mortgage declined but we've had the amount reduced after an aip. Was about 10k less.

This happened to me too. They AIP asked for quite basic details but once we went through a full income and expenditure and they took in to account childcare etc, they reduced the amount offered by about 5k, which was disappointing but doable.

About 8yo. The bank originally ignored the fact we had lived abroad for 12 months as still had UK bank accounts in that period....
Other banks had no problems with it though.