FAQs for Affordability and Decision In Principle

An affordability calculation works out how much you might be able to afford to pay back on your mortgage based on your income and outgoings. It is for illustrative purposes only and doesn't provide all the information you need to choose a mortgage. You can carry it out using an online tool like our affordability calculator.

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. The information you provide will be used to complete your Decision in Principle.

If you’re not quite ready for a Decision in Principle, we’ll email you a link to do this later at the end of the online affordability calculator. This link is available for 30 days. At the end of the 30 day period you will have to restart this process.

Sometimes also known as an Agreement in Principle or Mortgage in Principle, it gives an indication as to how much you could borrow. Many estate agents will insist on seeing a DIP as assurance before they'll put your offer to the seller. A DIP is for illustrative purposes only and doesn't provide all the information you need to choose a mortgage. To help make the process of getting a Skipton DIP as simple as we can, we make it easy to request one online.

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 idea of how much you could borrow from us and many sellers or estate agents ask to see a DIP. A DIP means that Skipton Building Society is, in principle, prepared to make a loan up to the amount shown. It is not a mortgage offer and does not mean that Skipton will make one. A mortgage offer is subject to full application, valuation and meeting the Skipton's lending criteria.

You will have 30 days to have an offer accepted on the property you are buying and to book a mortgage appointment with one of our mortgage advisers, who will complete a full mortgage application over the phone or via video appointment with you.

Carrying out a DIP at Skipton will involve a soft credit search which won’t leave a footprint on your record. If you do choose to progress with a full mortgage application, a hard credit search and credit scoring will be carried out, which will leave a footprint on your credit record.

1. We will send you an email to confirm your Decision in Principle has been accepted.
2. You will have 30 days to have an offer accepted on the property you are buying to submit your full mortgage application. Our mortgage advisers can complete a full mortgage application with you over the phone or via video appointment. You'll find details of how to book a mortgage appointment in your email from us.