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Original poster

Can I view properties without my mortgage in principle?

33 replies

Imagineit · 14/02/2023 20:12

Saw a broker today, I have an idea of how much I could borrow and want to start scoping out properties that are in my price range just to gage what my money will get me. If my options are all dire I will consider altering my hours at work to get a bigger mortgage but I can't know until I start looking.

What do estate agents ask for before they give you a viewing? I can't remember from when we did this a few years back

OP posts:
Kate8990 · 14/02/2023 20:14

I think you need a mortgage in principle first to show you're a serious buyer

Greensleevevssnotnose · 14/02/2023 20:16

No not usually

user1471548941 · 14/02/2023 20:18

We got a mortgage in principle from a bank who offered them in 10 mins online just to prove we were serious for EAs that asked for them.

We knew that we didn’t want to spend more than about £100k less than what we could get an AIP for so weren’t too fussy about the amount- it covered enough for what we wanted to view.

Then we found a serious contender of a property, used the AIP to secure 1st viewing, then second viewing, bidding against other buyers took about 4-5 working days and we used that time to have a full appointment with our broker and get the best product offering we could which gave us a lower interest rate with a different lender and allowed us to up our final offer, which is what secured us the property.

happy with the way we did it, it worked for us.

WeightoftheWorld · 14/02/2023 20:18

Not sure if it's different if you're not a FTB, but when we were, none of our local estate agents would let us view properties before we'd sent them evidence that we had an agreement in principle. I suspect it probably also depends on the market in the area you're looking to buy in, our area is very sought after and the market was particularly crazy when we were looking.

sarahc336 · 14/02/2023 20:18

We had to have a mortgage in principle and to have already sold our property to then get a viewing booked in but that was when the housing market was really busy just after lock down. It doesn't really hurt to get a mortgage in principle as then you will know what you can afford so then you don't start viewing houses it turns out you can't afford.

TuxedoJunction · 14/02/2023 20:19

I think it depends on how long the property has sat on the estate agent’s books. If it’s just come onto rightmove and they’ve a lot of interest, I’m doubtful you’d get to see it unless like you say, you’ve a mortgage in principle. However, if the property has been on for quite a while you’ll probably be fine to view it without having anything in place.

Original poster
Imagineit · 14/02/2023 20:20

Thanks everyone. So my next move is to secure that MIP and take it from there. If a lender agrees a certain mip, is there a time limit on me reapplying to them with a new warning potential?

OP posts:
Polik · 14/02/2023 20:33

You can't usually just think oh I'll work more hours so I can borrow more. Mortgage companies go on your contracted salary (if employed).

Original poster
Imagineit · 14/02/2023 20:34

No but I have scope to increase my contracted days in the very near future if necessary

OP posts:
Polik · 14/02/2023 20:35

And regarding house viewings - I haven't been asked for a MIP to view any properties in the last 6 months, and ive viewed many.. That said though, we weren't FTB

Original poster
Imagineit · 14/02/2023 20:36

I'm not being flippant these are realistic options. I've tried to work less hours to be available for my young son and have a better work life balance but if isn't possible to buy somewhere suitable on mg current budget then I'll need to review that

OP posts:
kitcat15 · 14/02/2023 20:38

not getting asked for MIP around my parts in NW for the last 6 months or so ….and that’s with all the high street estate agents

Original poster
Imagineit · 14/02/2023 20:39

Interesting I guess I can just call and see what they ask

OP posts:
AlwaysLatte · 14/02/2023 20:42

We didn't have ours on the market at the time (we were looking for something very specific) but I seem to remember the EA wanting to have sight of our our bank account before we could do the viewings.

AllWorkYoPlait · 14/02/2023 20:42

I've never been asked for proof of funds to secure a viewing at any point over the past 3 years, in more than one area.

You can easily generate an agreement in principle online anyway, with completely made up figures if you so desire. They don't really prove anything.

Polik · 14/02/2023 20:42

You don't have to show or prove you have an actual MIP. To view a property you can just say you have one. It will do no harm.

You'll likely get asked "Whats your current position" (which basically asking if you have a house to sell, if it's on the market or if its sold).

You say "No house to sell, I'm a FTBand have a MIP". End of story. You won't have to show/prove this until you offer on a house.

Mark19735 · 14/02/2023 20:42

Ridiculous. The EA doesn't know a thing about you. You might have an inheritance. Or have just sold the film rights to a bestselling novel. They have absolutely no idea. Call them, tell them you want to view, and go view. In the current market, they should be grateful anyone is looking to buy.

AlwaysLatte · 14/02/2023 20:42

(This was about 8 years ago though!(

catsnore · 14/02/2023 21:18

Surely you just ring up and arrange to look at the houses? The agent is likely to ask you for info on your position but I don't think they need any evidence. I've viewed houses without my house being on the market at all, for scoping out what was available.

Marblepie · 14/02/2023 21:44

We're FTB's viewing lots of properties at the moment and not one estate agent has asked to see our mortgage in principle. A couple have asked if we've got one, which we do as it was only a 10-min online form, but no-one has asked to see it. Ours told us nothing more than we got from those 'how much could you borrow' estimator calculators anyway.

pavillion1 · 14/02/2023 22:06

Polik · 14/02/2023 20:33

You can't usually just think oh I'll work more hours so I can borrow more. Mortgage companies go on your contracted salary (if employed).

wrong

WeightoftheWorld · 14/02/2023 22:07

Marblepie · 14/02/2023 21:44

We're FTB's viewing lots of properties at the moment and not one estate agent has asked to see our mortgage in principle. A couple have asked if we've got one, which we do as it was only a 10-min online form, but no-one has asked to see it. Ours told us nothing more than we got from those 'how much could you borrow' estimator calculators anyway.

I agree it's daft, but when we were looking about a year and a half ago, literally the local estate agents round here wouldn't let you book a viewing until they'd seen a copy of the agreement in principle. And two refused unless we had one done in junction with their own in-house broker. One of those we refused to do as we already had two by then so they wouldn't let us book any viewings with them. It's the norm here because there are so many buyers for each house so they can set whatever onerous conditions they want.

pavillion1 · 14/02/2023 22:10

during lockdown the housing market went mental so it went so crazy that they had to restrict viewings to those that could prove they could immediately proceed.. The market has changed drastically now so no longer an issue

spottie · 14/02/2023 22:21

WeightoftheWorld · 14/02/2023 22:07

I agree it's daft, but when we were looking about a year and a half ago, literally the local estate agents round here wouldn't let you book a viewing until they'd seen a copy of the agreement in principle. And two refused unless we had one done in junction with their own in-house broker. One of those we refused to do as we already had two by then so they wouldn't let us book any viewings with them. It's the norm here because there are so many buyers for each house so they can set whatever onerous conditions they want.

Show quote history

We bought as FTBs last year and had been looking for several months before that - viewed over 30 houses with about 15 different estate agents. None of them asked to see our AIP. We did attach it when making offers to show we were serious but it wasn't asked for.

Maze76 · 14/02/2023 22:30

Some agents require AIP to view, some don’t.