Decision in Principle

What is a decision in principle (DIP)?

Also known as an agreement in principle (AIP), a mortgage promise or a mortgage in principle. A decision in principle or DIP for short, is a certificate or statement that gives you an indication of how much you can borrow.

Why get a decision in principle?

Getting a decision in principle basically shows both you and estate agents a clear budget amount when you begin property hunting. Many estate agents insist on you presenting a decision in principle as it proves you’re a serious buyer.


How long does a decision in principle last for?

Ultimately this is dependent on your mortgage lender, but typically a decision in principle can last between 60 – 90 days.


Will a decision in principle affect my credit score?

Fortunately, applying for a decision in principle will not affect your credit score. Unlike a full mortgage application, a decision in principle utilises a soft credit check, which doesn’t affect your credit score due to only requiring certain details from credit reference agencies.

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Get a decision in principle

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Decision in principle checklist – Information you’ll need to know when applying


Your income:

  • Proof of income, salary, payslips or bank statements
  • If self employed, provide last 2 years of accounts

Your outgoings:

  • Any loans
  • Credit Cards
  • Monthly spending
  • Any existing mortgage payments

Additional information:

  • Proof of identity via passport or drivers license
  • Proof of current address

What our clients have to say

Steve has been a great support to us over the years even though we have never met in person! He has helped from Buy to Let’s to our residential mortgages, his knowledge is vast and always knows the answers to our questions! Thank you for always being there and directing us in the right direction always with your wisdom and expertise.

Thank you from the whole family!
S. Wilkhu
What can i say? He knows his stuff. Been in game for over 45 years he went through and explained everything to me clearly and found the cheapest product for me with zero fees. I am so happy with how quick he got things done - my mortgage offer from Natwest come through a week later. Very happy with the service and have already recommended friends and family. Will DEFINITELY be using Select Morgages again. Thank you so much.
Select Mortgages have looked after all the mortgages we have required over the years and Steve has never failed to give us the best attention possible and researched tirelessly to find the best option for us.
Simon & Bridgette Whattler
Steve has worked hard as my broker for the last 15 yrs. His knowledge and drive to get a good deal is second to none. I would recommend him to first time buyers and seasoned property owners alike.
M. Gould