How to Get a Mortgage in Principle in the UK?

Why getting one early matters

Getting a mortgage in principle early in your search has clear benefits:

• It gives you a realistic budget before you view properties
• It shows sellers and agents you’re a serious buyer
• It can help spot any credit or affordability issues early
• It speeds up the full mortgage application later on

How to get a mortgage in principle

You’ve got three main ways to do it:

1. Go directly to a lender

Most banks and building societies let you apply online in under 15 minutes. You’ll get a figure showing the maximum they may lend, subject to checks later.

2. Use a mortgage broker

A broker like MBNM can check your situation against multiple lenders at once. This is especially useful if your income isn’t straightforward or you want to avoid unnecessary credit checks.

3. Speak to your own bank

Your current bank might offer a mortgage in principle quickly since they already hold your financial data. It’s often fast, but you may not get the best deal if you only look there.

What happens after you get one

Once you have your mortgage in principle, you can:

• Start viewing properties within the price range suggested
• Make offers confidently, knowing you’ve had an initial check
• Prepare your documents for the full mortgage application stage

Just remember, a mortgage in principle isn’t binding. The lender will do full checks when you apply for the actual mortgage.