In this brief guide, we are going to answer the question “how long does a mortgage in principle last “.

How long does a mortgage in principle last?

90 days.

A mortgage in principle will usually last between 60 and 90 days but this is dependent on the mortgage lender. If you need a much longer mortgage in principle which lasts much longer than usual then you should seek a mortgage lender that offers a much longer mortgage in principle.

You should avoid making too many mortgage in principle applications as this may affect your credit score because some mortgage lenders may do a hard credit search when you apply for a mortgage in principle.

If your mortgage in principle doesn’t last as long as you want and you are still house shopping then you will simply need to apply for a mortgage in principle extension with the mortgage lender or apply for a new mortgage in principle.

What does agreement in principle mean?

An agreement in principle is the same as a mortgage in principle. An agreement in principle is simply an indication that the mortgage lender is willing to lend to you.  An agreement in principle will include how much the mortgage lender may be willing to lend to you and will also state how long the agreement in principle will last.

FAQs: How long does a mortgage in principle last?

Does an agreement in principle guarantee a mortgage?

An agreement in principle does not guarantee a mortgage. It is simply the mortgage lenders indication that they are willing to lend to you based on the initial information you have provided. The initial agreement in principle checks are very limited and hence does not offer a full view of your mortgage affordability.

Does a mortgage in principle affect your credit score?

A mortgage in principle will usually not affect your credit score because most mortgage lenders will conduct a soft credit check rather than a hard credit check. A soft credit check will not leave any public footprints on your credit file.

Can a mortgage be declined after agreement in principle?

Yes, a mortgage can be declined after an agreement in principle as when an agreement in principle is carried out these checks are very limited. Once you have made a full mortgage application for a mortgage offer the mortgage lender will conduct more in-depth.

Why would a mortgage in principle be declined?

A mortgage in principle could be declined for a lot of reasons. Thiscouldmbebbecause you have bad credit, you do not have enough mortgage deposit or the property just doesn’t meet the mortgage lenders criteria.


Using a mortgage broker to get your mortgage in principle

You may want to consider using an independent mortgage broker to get a mortgage.

Mortgage brokers are important as they can access mortgage products from across the whole of the market in some cases. This could be over 11,000 mortgage products. This may have some advantages than going directly to a mortgage lender.

A mortgage broker will look to understand your financial circumstances and then provide recommendations on which mortgage products may be suitable for you.

After giving you these mortgage recommendations, most mortgage brokers will seek your consent to apply for a mortgage in principle. This will allow you to shop for your home easier as more estate agents and sellers may take you seriously or it will give you confidence that your remortgage is indeed a possibility before you make a full mortgage application. Once you have found a home you want to buy or are satisfied with the mortgage offer for your remortgage then the mortgage broker will then look to get you a mortgage offer.

This will come with a key facts illustration document which details out the features of your mortgage including how much you will pay per month if there are any limits such as early repayment fees, or annual overpayment limits.

If you are happy with everything you can then go on to secure your  mortgage with the help of a conveyancer. Your conveyancer will manage the legal searches on the property to ensure there aren’t any issues with it, they will oversee the sales agreement to ensure it is in your best interest, they will manage the transfer of mortgage funds, exchange contracts with the seller or their conveyancer and set a completion date with the seller or their conveyancer.

In this brief guide, we are going to answer the question “how long does a mortgage in principle last “. If you have any questions or comments please let us know.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.


John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.