What's the difference between an agreement in principle with a lender to a full application.
The AIP application entails a credit check and normally lasts for three months. After the three month period do they do another credit check bearing in mind that too many credit checks can be detrimental.
An Agreement in principle, is a lender agreeing to lend you certain funds on the assumption that you can provide income verification, the valuation is satisfactory and there is no material reason that would prevent them from lending,
When you submit the full application, they check all of the above.
The 3 month limit, is just to get more up to date info from the credit agencies, in case you have late payments defualts registered etc in that time
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