GUIDES
What Is a Decision in Principle (DIP)?
A Decision in Principle (DIP) – sometimes called a Mortgage/Agreement/Mortgage-in-Principle (MIP/AIP) – is a lender’s “in-idea only” agreement of roughly how much they might lend you, before you’ve chosen a property. It’s not a mortgage offer – just an initial green-light based on the information you supply. A full offer will come later following detailed checks, a property valuation, and a full application.
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First Time Buyers Mortgages - Decision in Principle
What You Need to Get a DIP - and What Lenders Will Ask For
When you apply for a Decision in Principle, lenders (or your broker) typically ask you to provide some basic details. Common requirements include:
- Personal information – name, date of birth, current and previous addresses for the last 2–3 years.
- Income & employment / earnings details – salary, contract income, self-employed earnings, or regular income sources.
- Monthly outgoings / existing debts – credit cards, loans, other financial commitments, regular outgoings.
- Deposit amount (or planned deposit / equity) – to show you have the funds required to proceed.
Many lenders will run a soft credit check at this stage. This means your credit score isn’t harmed, and the check won’t appear on your public credit history.
In many cases – especially with a broker like us – you don’t need to supply full paperwork (payslips, bank statements) at DIP stage; however having them ready helps later, and sometimes required depending on lender.
How to Apply - Step by Step
- Gather basic info – ID, address history (last 2–3 years), approximate income, outgoings, deposit size.
- Choose a lender or use a broker (like GoMortgage) – sometimes online, sometimes via phone or in-person. Many lenders have easy online DIP forms that take under 15 minutes.
- Submit your DIP request – you’ll complete the form, provide details, and consent to a soft credit check.
- Get your DIP certificate / confirmation – usually instantly, or within 24 hours. This certificate shows how much you might be able to borrow.
- Start your property search – with a clear budget and a document (the DIP) to show to estate agents or sellers.
- When you find a property – full mortgage application – once your offer’s accepted, you move from the DIP to a full application: full income verification, property valuation, formal credit check, deposit documentation, etc.
Access Your Credit Report
Knowing exactly what lenders see is the first step. Checkmyfile lets you view your full credit picture across all three UK agencies in one place, helping you spot issues, track progress, and avoid surprises before you apply.
How Long Does a DIP Last - and What to Watch Out For
- Typically a DIP is valid for 30–90 days (depending on lender).
- If your financial situation changes — like income drops, debts increase, or you take out new credit – the DIP may become invalid.
- If your DIP expires before you’ve found a property, you can renew or re-apply (often with no credit-score penalty).
What a DIP Isn’t - and Why It’s Not a Guarantee
- A DIP is not a mortgage offer. It’s a preliminary indication. Once you apply formally, a lender may change their mind – after reviewing your full financials, credit report, employment stability, and property valuation.
- The amount quoted may change (up or down). Just because the DIP says you could borrow £X, doesn’t guarantee that’s final.
- A DIP doesn’t commit you to using that lender – you’re free to shop around.
Why Using a Broker (Like GoMortgage) Helps You Get a Better DIP - and a Real Mortgage
When you use a broker like GoMortgage:
- We assess multiple lenders at once – so we pick one whose criteria match your income, deposit, credit and property plans. That increases your chances of a positive DIP.
- We ensure your application is presented properly – income, outgoings, deposit, savings – reducing risk of immediate rejection.
- We’ll advise if your finances need strengthening before applying (deposit size, affordability, outgoings), to avoid wasted DIP attempts.
- We stay with you from DIP to full application – helping manage documentation, timescales, liaising with lender and estate agents, and smoothing out the path to completion.
That’s the kind of straightforward, client-first, no-fluff service GoMortgage stands for.
📞 Call GoMortgage on 01253 935050 when you’re ready — we’ll help you get your DIP, or check your eligibility if you’ve already applied elsewhere.
Speak With A Mortgage Advisor today
Contact our friendly mortgage advice team today. Sound mortgage advice from the experts at GoMortgage.
Author: Chris Days - Gomortgage
- 5 Mins
- Updated: Nov 17th 2025
Frequently Asked Questions
Does checking my credit report with Checkmyfile hurt my score?
No – checking your own report is a “soft search” and has no effect on your credit score. checkmyfile.com+1
If Checkmyfile shows I’m “high scorer,” will I automatically get a mortgage?
Not automatically. A strong credit-file helps a lot – but lenders also check income, deposit, affordability, employment, property value, and more.
What if I have old defaults or a CCJ on my report?
That complicates things, but doesn’t always rule you out. With a decent deposit, stable income, and honest disclosure, specialist or adverse-credit lenders (or certain mainstream ones) may still accept you.
Will all lenders use Checkmyfile when they assess me?
No – many lenders pull directly from one of the main credit reference agencies (Experian, Equifax or TransUnion). Checkmyfile is for you – to preview what they might see.
How often should I check my file?
Regularly. Credit data changes over time (payments, account closures, reporting updates) – checking every few months helps you catch anything before applying.
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Speak With A Mortgage Advisor.
Contact our friendly mortgage advice team. Sound mortgage advice from the experts at GoMortgage.
