Does it make sense to get an AIP and start viewing houses before I have a full deposit?

[Somethingsgotthagive]

Weeks away from having my full deposit ready but would be keen to get an AIP and start viewing houses in the hope that when the right one comes along, I will be immediately "ready" to act. Would this make sense or do I need to also show evidence of my 10% deposit sitting in my bank account?

No you don’t have to show proof of deposit. Get an AIP through a broker who will spend half an hour on the phone to you and actually checks your finances to see what you can afford. Rather than ones with a generic ‘you might be able to borrow’ number.

Yes, get a DIP as then you know what you can afford. Why look at houses in the £500k if you can only afford up to £300k.

I thought we could afford houses up to £800k based off our earnings and equity from the 'how much can you borrow' that I did a couple of years ago when we first talked about moving but banks have clamped down hard on affordability and when I did a DIP last year it worked out can only go as high as £650k

You don't need to show proof of deposit at this stage.

I think it's a good idea to start looking at properties before you are ready to buy if you are a FTB. Because it gives you a good idea of what represents good and bad value and what you like & don't like in particular types of properties/areas etc.