Mortgage Applications

Obtaining an Agreement in Principle (AiP) usually involves a "soft" credit check, which is visible only to you and does not affect your score. However, when you submit your full mortgage application, the lender will perform a "hard" credit check. This leaves a footprint on your file that other lenders can see. Too many hard checks in a short period can temporarily lower your score, so it is best to get it right the first time.

Once a lender has approved your application and issued a formal mortgage offer, it is typically valid for three to six months. This gives you a specific window to complete your property purchase. If your purchase is delayed beyond this period, you may need to apply for an extension or re-submit your application, which could involve a new credit check.

Changing jobs during the mortgage process can be risky. Lenders prize stability, and a new job often means a probationary period, which some lenders do not accept. If you must change jobs, inform your mortgage broker immediately. They can advise if your current lender will proceed or if you need to switch to a specialist lender who accepts new employment contracts.

While not strictly legally required, being on the electoral roll is one of the easiest ways to boost your chances of approval. It allows lenders to quickly verify your identity and current address. If you are not registered, or your details are incorrect, it can cause delays or even lead to rejection because the lender cannot validate your history.