What is an agreement in principle?

An agreement in principle (AIP or decision in principle) is a lender's indication of how much it would lend you, based on a soft check of your income and credit file. It is not a formal offer, but sellers and agents increasingly ask to see one before accepting an offer.

Should I use a broker or go direct to a bank?

A whole-of-market broker searches across lenders and handles the paperwork, which usually matters most for self-employed, contract or adverse-credit cases. Going direct can suit straightforward employed applicants when a bank has a market-leading rate. On HausMart both can pitch, so you can see the difference before choosing.

How much deposit do I need?

Most lenders want at least 5% of the purchase price, but rates improve at each loan-to-value band — commonly 90%, 85%, 80% and 75% LTV. A larger deposit lowers the LTV and the interest rate you are offered.

How long does a mortgage offer take?

An agreement in principle is often issued in minutes. A full mortgage offer typically takes two to six weeks depending on the lender, the valuation and how quickly you supply documents. Applying as soon as your offer is accepted is the fastest route to exchange.

Buyer essentials

Need a mortgage? Make lenders pitch for you

Tell us about your move once and FCA-regulated brokers, banks and building societies come back with what they would actually lend and at what rate. No credit search from us, no obligation, and you decide who to talk to.

How mortgage funding works

Agreement in principle

A soft-footprint check that shows what a lender would advance. Sellers on HausMart can see you are AIP-ready, which makes your swipe-right on their home count for far more than a casual enquiry.

Compare the real cost

Rate is only part of it. Weigh the product fee, the initial term, early repayment charges and the reversion rate together — the APRC and illustration make two offers genuinely comparable.

Full application and offer

Once your offer is accepted, submit the full application with payslips, bank statements and ID. The lender values the property and issues the formal mortgage offer, usually valid for three to six months.

Lower LTV, better rate

Lenders price in bands. Nudging your deposit over the 90%, 85% or 75% loan-to-value threshold can cut your rate far more than shopping around within the same band.

Affordability is not just income

Lenders stress-test against credit commitments, childcare, dependants and future rate rises. Two firms can differ by tens of thousands on the same salary, which is exactly why competing pitches are worth having.

Get funded before you fall in love

The government's push to speed up transactions cuts both ways: buyers who arrive with finance arranged and a conveyancer instructed exchange weeks quicker, and are the offers sellers accept.

Everyone here is FCA regulated

Only firms authorised by the Financial Conduct Authority can advise on or arrange a regulated mortgage. Every broker, bank and building society on the HausMart panel is checked against the FCA register.

Line up the rest of your move

Finance, a conveyancer and a survey booked together are what turn an accepted offer into a fast exchange.

Get conveyancing quotes Get survey quotes EPC rules

Get mortgage pitches

Takes a minute. Pitches usually arrive within one working day.

For brokers, banks and lenders

Pitch for our buyers' mortgages

HausMart buyers arrive with the postcode, purchase price, deposit, income, employment type and timescale already captured, so you can pitch a realistic figure first time. We take no cut of the client's fee and never sell the same enquiry round a room. Firms must be authorised by the FCA for regulated mortgage business.

HausMart is not a mortgage adviser and does not give financial advice. We introduce you to FCA-authorised firms who provide their own advice and illustrations. Your home may be repossessed if you do not keep up repayments on your mortgage.