How Long Does a Mortgage in Principle Last?

An Agreement in Principle, sometimes called a Mortgage in Principle or Decision in Principle, gives you a quick indication of how much you might be able to borrow, without submitting a full mortgage application.

If you’re planning to buy a home in Manchester, securing an AIP early on can help speed up the process and strengthen your position when making an offer.

What is an agreement in principle?

A mortgage agreement in principle is a written estimate from a lender showing how much they may be willing to lend based on basic financial information and a soft credit check. It’s not a guarantee, but it gives you a realistic borrowing figure and helps you focus your property search.

At Manchestermoneyman, we can usually arrange your AIP within 24 hours of your mortgage appointment. There’s no obligation to proceed with a full application once you’ve received it, and it doesn’t commit you to a specific lender.

How long does an AIP last?

Most agreements in principle are valid for between 30 and 90 days, depending on the lender. This is usually long enough for you to find a property and submit an offer. If your AIP expires before you’ve found the right home, we can help you renew it quickly by updating your details and checking everything is still accurate.

It’s important to remember that if your circumstances change, such as a new job, change in income, or increased debt, the lender may need to reassess your borrowing limit.

When should I get an agreement in principle?

It’s recommended to get your AIP before you start booking viewings. Having one in place means you’ll know your budget from the outset and can focus on properties you’re more likely to secure.

Estate agents in Manchester will usually ask for an agreement in principle before accepting an offer. It shows you’re serious and prepared, which can make your offer more attractive to sellers, especially in a competitive market.

What information do I need to provide?

To get an AIP, you’ll need to share some personal and financial information. This includes your income, employment details, outgoings and credit history. You won’t need to submit full documents just yet, but it’s worth having everything ready in case the lender asks for more information.

If you’re self employed in Manchester or have a more complex income, some lenders may request supporting evidence such as bank statements or tax returns. Our mortgage advisors in Manchester can guide you through what’s needed.

Does it affect my credit score?

Most lenders use a soft credit check to produce an agreement in principle. This won’t leave a mark on your credit file and doesn’t affect your credit score. Some lenders still run a hard check, so we’ll always check which type of search they use before proceeding.

A full mortgage application involves a hard credit check, which is recorded on your credit file. That’s why it’s important not to apply with multiple lenders at once. As your broker, we’ll help you avoid unnecessary searches and only apply where you’re more likely to be accepted.

Is an AIP the same as a mortgage offer?

No, an agreement in principle is not legally binding and doesn’t mean the lender has approved your mortgage.

A mortgage offer is the formal approval, issued after full checks and a property valuation. The mortgage offer sets out the terms of your deal, including your interest rate and repayment details.

Think of your AIP as the first step. It’s a useful tool for budgeting and making offers, but it’s not a guarantee of a mortgage.

What happens if I’m rejected?

If you’re declined for an agreement in principle, it could be due to your credit score, income, or something in your financial history. It doesn’t automatically mean you won’t get a mortgage, but it does mean the lender may not be the right fit for your circumstances.

Our team can help you understand why you were rejected and look for more suitable lenders. We’ll always assess your situation first to avoid unnecessary applications and make sure your credit profile is protected.

Do I have to pay for an AIP?

No, getting an agreement in principle is free of charge. There’s no commitment, and it doesn’t tie you to a specific mortgage product.

At Manchestermoneyman, we provide a free AIP as part of your initial mortgage appointment.

Get Your AIP Within 24 Hours

Whether you’re a first time buyer in Manchester, moving home, or exploring your options, we can help you secure an agreement in principle quickly and easily.

Book your free initial mortgage appointment today and speak with one of our experienced mortgage advisors in Manchester. We’ll explain everything clearly and get your AIP arranged, usually within 24 hours — helping you take the next step with confidence.

Date Last Edited: October 17, 2025