Decision in Principle Explained: What First-Time Buyers Need Before Viewing | On The Ladder Ep 2 скачать в хорошем качестве

Decision in Principle Explained: What First-Time Buyers Need Before Viewing | On The Ladder Ep 2

Thinking about buying your first home? Before you even start viewing properties, there’s one thing you must have and hardly anyone explains it properly. In this episode of On The Ladder, Sarah Tucker, founder of The Mortgage Mum and trusted expert seen on This Morning, BBC and The Times, breaks it all down in simple terms. It’s called a Decision in Principle (DIP) — also known as an Agreement in Principle or Mortgage in Principle — and it’s the key to knowing what you can borrow before you fall in love with a property. 💡 In this episode, you’ll learn: ✔️ What a Decision in Principle actually is ✔️ Why it’s essential before you start house-hunting ✔️ How your mortgage adviser can help you secure the right DIP ✔️ What estate agents really want to see ✔️ The common myths about credit scores and DIPs ✔️ Why not all lenders offer the same amount — and why that matters ✔️ How to avoid sharing your full budget with estate agents 🎯 Quick Facts: A DIP is your first "yes" from a lender - not a full mortgage offer Most lenders use a soft credit check, so it won't hurt your score Valid for 60–90 days and can be renewed easily Your mortgage adviser can tailor your DIP and guide you every step 00:23 - Why you need this before viewing houses 00:52 - What is a DIP 1:07 - How it works 1:55 - Without a DIP 🎓 On The Ladder is your monthly step-by-step guide to buying your first home in the UK, no jargon, no fluff, just real advice that helps you move forward with confidence. 📲 Visit: www.themortgagemum.co.uk 📌 Glossary of Terms: • DIP (Decision in Principle) – A lender’s initial agreement to loan you a set amount, based on a soft credit check. • Credit Check – A review of your credit history. Can be “soft” (no impact) or “hard” (visible to other lenders). • Affordability Check – Part of the mortgage process where a lender reviews your income vs. outgoings. • Estate Agent – The person or agency selling the property; they may request a DIP to prove you're a serious buyer. #FirstTimeBuyer #MortgageAdviceUK #DecisionInPrinciple #AgreementInPrinciple #MortgageInPrinciple