The Journal

The Journal

Guides
How Long Does a Mortgage in Principle Last?

When buying a property with a mortgage, securing an Agreement in Principle (AIP) or a Mortgage in Principle (MIP) is a key first step in assessing a buyer's affordability for a loan. This agreement offers an estimate of the amount a lender may be willing to lend a buyer, and while not a firm commitment, it can strengthen a buyer's position in the property market and streamline the mortgage lending process.