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If you're planning to buy a home, you've likely come across the term mortgage in principle. Also known as a mortgage agreement in principle, agreement in principle, or mortgage decision in principle, it's an essential early step in the home buying process. But how long does a mortgage in principle last, and what factors affect its validity?
In this guide, we'll break down exactly how it works, how long it stays valid, and why it matters to estate agents, lenders, and your property search.
So, how long does a mortgage in principle last? In most cases, an agreement in principle is valid for between 60 and 90 days. The exact timeframe can vary depending on the mortgage lender's criteria and your personal circumstances.
Some mortgage providers offer shorter validity periods of around 30 days, while others may extend it to 120 days. Once your principle expires, you'll need to request a new one before you can continue your property search or progress with a mortgage application.
Several factors can influence the validity period of your mortgage in principle:
If any of these factors change after you've received your mortgage in principle, you may need to request an updated agreement before submitting a full mortgage application.
Yes — if your mortgage agreement in principle expires before you've found a property or submitted a full mortgage application, you can easily apply for a new one. You might choose to stay with the same lender or explore offers from other lenders or a mortgage broker. Just be cautious of applying for multiple agreements at once, especially if they involve hard credit searches, as this can affect your credit score. Fortunately, many mortgage advisers and mortgage providers offer a simple online process to update your details and renew your mortgage in principle quickly.
Having a mortgage in principle in place is a smart move when starting your property search. Here's why:
It's also a valuable tool for first-time buyers or those climbing the property ladder, as it offers peace of mind before making any formal commitments.
The process for getting a mortgage in principle is straightforward:
Once you've had an offer accepted on a property, you'll need to submit a full mortgage application and provide supporting documents like bank statements and proof of income.
In short, no. A decision in principle (DIP), mortgage agreement in principle (AIP), mortgage promise, and agreement in principle all mean the same thing. These terms are often used interchangeably by mortgage lenders, estate agents, and mortgage brokers. They all refer to a document or statement confirming how much you could potentially borrow based on a quick review of your income, credit history, and personal circumstances. Just remember — it's not a guaranteed mortgage offer and the terms can change once you submit your full mortgage application.
Yes, even with a poor credit rating, you can still apply for a mortgage, though your options may be more limited. Some mortgage providers specialize in helping buyers with low credit scores, offering mortgage deals tailored to their situation.
A few things to consider:
Even though your principle application may be subject to stricter terms, securing a mortgage agreement in principle can still be possible.
Each credit reference agency calculates your credit rating slightly differently and has a different scoring system. Which means that what counts as a good credit score will depend on which of the four major agencies your lender uses.
Experian, Equifax, Crediva and TransUnion, each credit agency could have different information showing, therefore, we have teamed up with Check My File. Their services provide not only a free 30-day trial but also a comprehensive credit report from all four agencies. This ensures our mortgage advisors can easily identify any credit rating issues.
To obtain your report, click the link below for a 30-day free trial with CheckMyFile. After the trial, a monthly subscription fee of £14.99 will apply, with the flexibility to cancel anytime.
Provide us with a credit report today, and uncover the issues that could be affecting your credit file! CLICK HERE to access your free credit report with the four top credit agencies all in one report!
Most agreements last 60 to 90 days, though it depends on the lender's criteria.
Generally, no, most lenders use a soft credit check. However, some may run a hard credit search, so confirm before applying.
You can, but too many hard credit searches in a short time can negatively affect your credit file and credit score.
No, it's not a commitment to lend and doesn't guarantee a mortgage offer. You'll need to go through a full mortgage application process.
Yes, often. It shows you're a serious buyer with a realistic budget and helps speed up the home buying process.
A mortgage in principle typically lasts between 60 and 90 days and is an essential step in securing your dream home. It gives you a strong position when dealing with estate agents, helps you estimate mortgage repayments, and puts you ahead on the property ladder.
If you're ready to get a mortgage, speak to a mortgage broker or mortgage advisers for tailored advice and find out which mortgage deal works best for your personal circumstances.
Getting the keys to your new home is only part of the story. Making sure you can actually keep them, no matter what life throws at you, matters just as much.
As the Co-Founder and Director of The Fee Free Mortgage Broker and Alexander Southwell Mortgages, my role goes far beyond arranging property finance. I am the protection specialist for the business, which means my absolute passion is making sure families have the right financial safety net in place.
I live and work alongside my partner, Jamie, near North Baddesley and Romsey on the outskirts of Southampton. I started my career as an estate agent at Connells, learning the home buying journey from the ground up and supporting clients through one of the most exciting and nerve wracking processes of their lives.
From there, I moved deeper into financial services, joining Re-Assured as a specialist insurance broker. Working in a dedicated protection environment gave me an expert level understanding of life insurance, critical illness cover, and income protection. It taught me how to have honest, comfortable conversations with families about the things they would rather not think about, but absolutely should.
In 2019, I brought that expertise to our family business. Together, Jamie and I have grown a local, independent brokerage that genuinely looks after clients for the long term.
Taking on the biggest financial commitment of your life without a plan for what happens if your income stops is a risk no family should take.
My belief in this comes from more than professional experience. As a mother, I understand instinctively what it means to want to protect the people you love. That personal understanding shapes every single conversation I have with our clients. It is never a tick box exercise or a product sale. It is a genuine, warm discussion about what your family would need to stay safe in your home.
I look after the full range of personal protection, offering whole of market advice across:
Because Jamie and I run the day to day operations together, there is a personal dimension to how we work. Outside of the office, I love nothing more than spending time with my family, and if there is baking happening in the kitchen with our son, even better. That sense of home and family genuinely informs the care I bring to every client.
Whether you are a first time buyer looking at cover for the first time, or a growing family reassessing your current policies, I am here to help you get it right. There is no broker fee for our advice, just honest guidance to keep your home safe.
