Getting a Decision in Principle

Before applying for a mortgage you may need a Decision in Principle (DIP), sometimes referred to as an Agreement in Principle (AIP). A DIP gives an indication as to how much you could borrow from us and many sellers or estate agents ask to see your DIP as assurance that you can get a mortgage. It is for illustrative purposes only and doesn't provide all the information you need to choose a mortgage.

Please note:

A Decision in Principle (DIP) is not specifically related to a mortgage product within our range, and we reserve the right to withdraw our products at anytime without notice. Whilst you may be accepted by our Affordability Calculator and Decision in Principle, we may not have a product available to suit you.

What you'll need to know

Your income:

  • Salary
  • Bonuses
  • Overtime
  • Benefits
  • If you’re self-employed - last 2 years of accounts or Accountant's Certificate and net profit
  • For limited companies - amount of dividends and remuneration
  • If you’re a contractor please quote your annual salary as your daily rate x 5 x 48 weeks as employed income, rather than self-employed income.

Furlough/Self employed grant

If you are furloughed we are unable to offer you a mortgage if your application relies on this furloughed income to pass our affordability check.

If you are currently in receipt of self-employed grants due to Covid, additional checks may be required to ensure the business is stable and back trading.

Your outgoings:

  • Loans
  • Credit cards
  • Existing mortgage payments
  • Spending

For further information take a look at our Frequently Asked Questions.

How to get a DIP online

To get started you'll need to check your affordability using our affordability calculator and then request a DIP. This is done in two easy stages:

  1. The affordability calculator works out how much you might be able to afford to pay back on your mortgage based on your income and outgoings.
  2. If you've already got your affordability calculation, follow the instructions within your email. You can access it for 30 days before having to start again.

  3. We use the information you supplied for the affordability calculator and ask for some additional information to complete your DIP.

If you don’t complete both stages in one sitting, at the end of your affordability calculation we’ll send you details via email to allow you to complete your DIP within 30 days. Make sure you provide your email address and mobile number to be able to start from where you left off.

Launch Affordability Calculator

Need Help? Chat to us via web chat or call us on 0345 607 9825.

Important information: We will use the information obtained from the credit check to undertake an automated assessment of your ability to afford the mortgage. Where we assess it is not affordable, your application may be rejected without being manually assessed by the Society. If the information you provide in the Affordability Calculator indicates that we might be able to lend to you, we will then carry out a soft credit check, which means our check won't affect your credit score.

Your home may be repossessed if you do not keep up repayments on your mortgage.
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