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Mortgage approval in principle

12-03-2024 5:38pm

#1

LLMMLL

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Join Date: December 2015

Posts: 4479

Hey all,
just got mortgage approval in principle. Was wondering if I have to be as careful with my accounts as I was the last 6 months now. There were a few big purchases (furniture) that I avoided making even though I could easily afford. Am I now free to make these purchases (I can easily afford them from my savings) or will they be re-examining my accounts at drawdown? I’m not sure the purchases would even have impacted the original decision.

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Comments

#2 12-03-2024 6:08pm

Jim2007

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Approval in principle, means exactly that! They may or the may not do a further review before actually granting you a mortgage, it is anyone's guess.

2
#3 13-03-2024 11:49am

Geuze

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The lender could well request bank statements at Loan Offer stage, and at drawdown stage.
Keep a clean bank account.

2
#4 13-03-2024 8:36pm

herbalplants

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As per above comments, keep it clean no big purchases

Remember the shills only get paid when you react to them.

1
#5 13-03-2024 11:12pm

JVince

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Don't buy furniture for a house before you move in.
Ideally use donated furniture for a few weeks before committing to long term furniture.
Get the "feel" of the place and the true amount of space available.

3
#6 13-03-2024 11:16pm

LLMMLL

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Thanks all. Will hold off.

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#7 13-03-2024 11:37pm

Lance Handsome Noblewoman
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I wouldn’t buy any furniture until you have the keys tbh OP.

0