If you’re thinking about buying a home in Newcastle, you may have already heard about the importance of securing a mortgage agreement in principle (AIP).

In most cases, getting a mortgage agreement in principle is quick and straightforward. As a mortgage broker in Newcastle, we can usually arrange your AIP within 24 hours.

Once issued, your agreement in principle is usually valid for between 30 and 90 days, giving you plenty of time to start viewing properties.

If your AIP expires before you find a property, you can simply renew it when you’re ready to continue.

What is an agreement in principle?

An agreement in principle, also called a mortgage in principle or decision in principle, is a statement from a lender that you are likely to be eligible for a mortgage based on your credit file and some basic details.

Having an AIP in place shows sellers and estate agents that you’re serious and financially prepared, making you a more attractive buyer. In many cases, this can even put you in a stronger position to negotiate on the price of a home.

Will getting an agreement in principle affect your credit score?

It’s natural to wonder if an AIP will impact your credit score. When you apply, the lender will need to check your credit file. There are two main types of credit check: a soft search and a hard search.

A soft credit search only leaves a trace that you can see, and does not affect your score. A hard credit search provides a detailed look at your credit history and leaves a visible mark on your file. Too many hard checks in a short time can have a negative effect on your rating.

Most lenders now use a soft check for an agreement in principle, so it’s less likely to have an impact, but it’s always a good idea to check with your advisor if you have concerns.

What documents will you need for an agreement in principle?

To get your AIP, you’ll usually need to provide some basic information, such as your income, address history, and employment details.

You won’t need to supply full paperwork at this stage, but having details ready such as your latest payslip or evidence of self-employed income can make the process even smoother.

Is an agreement in principle a guarantee?

An agreement in principle is a positive sign, but it isn’t a final mortgage offer. You will still need to submit a full mortgage application and provide supporting documents for the lender to review.

Factors like your income, employment status, and outgoings will be assessed in more detail at this stage. Self-employed applicants may be asked for extra paperwork.

Can you make an offer without an agreement in principle?

You can make an offer on a property without an AIP, but most estate agents and sellers will want to see that you have one in place.

An agreement in principle gives them confidence that you can secure the funds to complete the purchase, making your offer much more attractive.

What’s the next step?

Once you have your agreement in principle, you can start viewing properties with confidence, knowing that you’re in a strong position to move forward when you find the right home.

If you need your agreement in principle arranged quickly, our mortgage advisors can get you one within 24-hours. Simply reach out to a member of the team and we can the balling rolling.

Date Last Edited: July 21, 2025