What’s an MIP?
Our Mortgage in Principle (MIP) is a document we issue that states how much you could expect to borrow based on the information you’ve given us. You don’t need a credit check to get one, and you can get it in minutes. If you’re house-hunting or you’ve found a property that you’re ready to make an offer on, having an MIP gives you more credibility with estate agents and vendors (the people selling the property).
What it’s not
A mortgage in principle is not a mortgage offer, nor is it a guarantee of being approved for a mortgage. It’s a statement of how much you could borrow based on the information you’ve provided.
When can I get one?
Once you’ve filled out your details, you’re ready to speak to one of our friendly mortgage experts. They’ll answer all your questions and help you understand how much you’ll be able to borrow. We’re be online from 9am until 9pm every day (except Friday when we finish at 5pm).
Why would I need an MiP?
Typically, estate agents will want to see some form of proof that you’re ready to buy. Having a Habito MIP can be invaluable at this stage, because it will give you a solid idea of how much you can borrow and show estate agents you’re serious about buying.
Can I have one?
Sure! Well, depending on your circumstances, you might not need a Mortgage in Principle. If you’re looking at properties, we can get you an MIP in a matter of minutes. If you’re wondering whether an MIP is right for you, log back in and speak to an expert.