Will getting a new AIP invalid my old one?

  • Filter
  • Time
  • Show
Clear All
new posts

    Will getting a new AIP invalid my old one?

    Hi, I currently have an agreement in principle to buy a house which is solely for me, however I might change to a joint mortgage with someone else. If I get an AIP for that joint mortgage, will that invalidate my initial sole AIP?

    AIPs are usually valid for about 90 days. Does it matter if one becomes invalid ? Just apply again


      It is only an AIP, no formal application has been submitted and therefore one is at liberty to submit another AIP even if one is adding another partner to the loan.
      One word of caution, some lenders leave a hard footprint on your credit profile , whilst others only a soft footprint, too many hard footprints can have an impact on one’s credit score so do check with the present lender on this.


        For the purpose of clarifying actual offers of loan , much depends on whether the application is for residential Homeownership or Buy to Let:-

        Residential Mortgage offers are valid for 6 months
        Buy to Let in all its guises are in the main valid for three months, a minority do have between 4 & 6 months validity period.
        Valuation reports across all categories are valid for six months.


        Latest Activity


        • Reply to Is now the time to sell up?
          by gnvqsos
          How can a change in utility prices drive up the base rate-that is the function of the Mpc...
          11-08-2022, 19:42 PM
        • Is now the time to sell up?
          by humptydumpty
          This feels very much like 2006 to me but worse. I got outbid at auction last month in style. I set a sensible price and wasn't even close. Two maniacs duelled it out £50,000 over the odds on a fire damaged property!

          I wasn't even excited to get my teeth into it at the price I bid anyway....
          11-07-2022, 23:11 PM
        • Buying property number 1...
          by Azzurri85
          I've spent the last 4 months or so looking for property number 1, the amount of properties I've viewed since then is in double digits and I estimate that I've offered on half of them without success.

          I'm looking for homes in a city in the East of England, whilst I no longer live there it...
          21-07-2022, 13:41 PM
        • Reply to Buying property number 1...
          by gnvqsos
          You have bought in an overvalued market, and in 10 years your houses may be the same price. In a continuum from 2010-2022 the more recent the purchase the less chance of making a gain in annual terms. Houses bought in 2912 have probably doubled in price....
          11-08-2022, 19:40 PM
        • Rental Yield Calculation
          by garrymac

          Regarding the term rental yield how do you all calculate this in respect of property you have bought. I see some comments saying ignore property prices but Google searches indicate that yield is a factor of rental income vs property value.

          So let's say I bought a house...
          10-08-2022, 15:20 PM
        • Reply to Rental Yield Calculation
          by gnvqsos
          The value is only valid at the point of purchase....
          11-08-2022, 19:35 PM
        • Reply to Current mortgage dilemma
          by gnvqsos
          Interesting to observe the anxiety generated by a marginal adjustment in a very low rate of interest. These cheap mortgages account ,in a large part, in an overvaluation of asset prices. Also tempted a large number into unsustainable debts....
          11-08-2022, 19:33 PM
        • Current mortgage dilemma
          by blinko
          the current situation will have sorted itself out, in 2 to 3 years unfortunately my mortgage comes off it's fixed Jan 2023

          Base rate likely to be 0.23% higher Jan 2023 worst case 0.75% in the middle 0.5% (also looking at the recent US rate movement)

          My options are I think...
          31-07-2022, 12:35 PM
        • Reply to Current mortgage dilemma
          by theartfullodger
          Ms Surgical Support :. Or Thick Lizzy

          Under Thatcher, November 1979, BoE base rate hit 17%. I had a for then large mortgage. I was lucky, building society only went to 15%. Painful....
          11-08-2022, 14:50 PM
        • Reply to Current mortgage dilemma
          by jpkeates
          My financial advisor are advising clients to expect mortgage rates to increase or remain steady (and higher than now) for the next two years, but to expect them to then fall.
          So they're suggesting people take two or three year fixed deals if they can, but no longer.

          For what it's...
          11-08-2022, 14:31 PM