How Long Does a Decision In Principle Last?
A ‘Decision In Principle’ is a statement of some sort from a lender declaring what they would be willing to lend you as a prospective borrower, based on the information that they have received about you. It is essentially a conditional offer, but not a final offer. You will usually need to get a Decision In Principle before applying for a mortgage or making an offer on a property, as it proves that lenders would be prepared to offer you a mortgage.
Although there is no official time frame for a decision in principle, they will often last up to 30 days. This will vary between lenders.