What is a Mortgage in Principle?
How to apply for a Mortgage in Principle
How can Trussle help?
Common questions about your Mortgage in Principle
Your property search with a Mortgage in Principle

Before you start looking for your dream home, it’s a good idea to get a Mortgage in Principle. A Mortgage in Principle tells you roughly how much you’ll be able to borrow, so you can start viewing and making offers on properties that are realistically within your budget.

What is a Mortgage in Principle?

A Mortgage in Principle (sometimes called a Decision in Principle or Agreement in Principle) shows estate agents and sellers that you’re serious about buying a home. Having one ready-to-go before you make an offer casts you in a positive light - it shows that in principle, you’ve got the means to buy the property, so you’re less likely to hold up the process further down the line. Having a Mortgage in Principle essentially makes you a more attractive buyer. It’s quick and free to obtain, so it makes sense to get one.

There are practical benefits too. You won’t waste time viewing properties outside your budget, as a Mortgage in Principle will give you a good idea of how much you’ll be able to borrow.

Having a Mortgage in Principle is the first step on your journey towards buying a new home. To find out what happens after you’ve got one, read our guide You’ve got a Mortgage in Principle. Now what?

How can Trussle help?

If you’re looking for a home, Trussle can provide you with a Mortgage in Principle quickly and easily. You’ll be able to start your home search in no time - once you’ve completed your Trussle Profile your Mortgage in Principle will be ready to print or download.

Trussle MIP

How to apply for a Mortgage in Principle

1. Answer a few simple questions
It takes just five minutes to get a Mortgage in Principle from Trussle. We’ll ask you a few questions to estimate how much you could borrow and afford to pay back to a lender, but we don’t need as much information as we would for a full mortgage application.

Income profile

2. Receive your Mortgage in Principle
We’ll calculate the amount you could afford to borrow and will email you your personalised Mortgage in Principle. You can also download and print it out.

3. Stay up to date from your Trussle Timeline
Once you’ve got your Mortgage in Principle you’ll immediately gain access to your Trussle Timeline, which will keep you updated on where you are in the mortgage process. Once you’ve had an offer accepted you can return here to add the details of your new home so that we can get started finding the right mortgage for you.

Welcome back page

Common questions

How long does a Mortgage in Principle last?

Because we don’t run a credit check when providing you with a Mortgage in Principle, there’s no official expiry date. If your circumstances change (say you get a payrise), your Mortgage in Principle needs to be updated to reflect this.

Am I committed to borrowing the amount my Mortgage in Principle states?

No. Applying for a Mortgage in Principle doesn’t tie you to any lender or any type of mortgage. It isn’t legally binding, so if you decide not to buy a home, you won’t lose out financially.

No - a Mortgage in Principle doesn’t guarantee you’ll be able to borrow the amount stated. It’s an indication of how much you’re likely to be able to borrow, but the amount isn’t guaranteed until the lender has approved your application. The sum you’re able to borrow ultimately depends on the lender, who will have their own lending criteria, and who will perform a credit check before coming to a decision. Your Trussle adviser will help you make sense of this.

Does having a Mortgage in Principle mean I’m guaranteed to get a mortgage?

No, however it does give you a good idea of the amount you could be able to borrow. When you come to apply for a mortgage, we’ll ask for more details about your personal and financial situation, and lenders will run a credit check before accepting your application. These factors will determine whether your mortgage application is accepted.

Do I need a credit report to get a Mortgage in Principle?

Not usually, unless you have a history of bad credit. We’ll let you know if we need to see your credit score once you’ve answered the questions.

Credit report upload

Your property search with a Mortgage in Principle

What happens once I’ve got my Mortgage in Principle?

You can make offers on homes, and once you’ve had an offer accepted, simply log back into your Trussle Profile to update your information to include your potential new home. We’ll then start looking for the most suitable mortgage for you. If we need anything else from you before we can search for suitable deals (such as a credit report), we’ll let you know.

Trussle Mortgage Adviser Deepak thinks getting a Mortgage in Principle is the best way to show estate agents and sellers you’re serious about buying.

Image of Deepak1

‘You wouldn’t go to buy a car without knowing what you could spend - it’s the same with property. A Mortgage in Principle gives you an indication of how much you could borrow, then once you have a budget, you can browse and starting refining your search. Estate agents won’t take you seriously without a Mortgage in Principle - to them, it shows that you can actually afford what you say you can, and any offers you make are backed up with proof. For first time buyers, it’s especially important. I’d go as far as to say that having a Mortgage in Principle is the number one thing first time buyers should have sorted when looking to buy. At Trussle, we can give you an indication of how much you can afford each month, too, so you’re fully prepared.’

We’re here to help

It’s easy to get in touch with us if there’s anything you’re unsure about - simply drop us a message using the livechat box in the bottom right hand side of both your Trussle Timeline and this page. We’re most responsive during the day and you can expect an answer within minutes, but you can message us anytime - we’ll always get back to you within 24 hours.

Intercom chat

Can I get a Mortgage in Principle now?

Absolutely. Get your free online Mortgage in Principle, and it’ll be ready to print out in minutes.