How long does a mortgage decision in principle last?

A mortgage decision in principle (DIP) is usually valid for between 30 and 90 days, depending on the mortgage lender.

A DIP is also known as an agreement in principle (AIP) or mortgage promise, there’s no difference between them.

A decision in principle DIP is often seen as the first step to buying or remortgaging a home without fully committing to a property or lender. Most estate agents will expect first time buyers to have a DIP before accepting an offer to buy.

A DIP is obligation free and only involves a soft credit check by the lender, which means it does not affect your credit score.

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