READER QUESTION
Q I’m in the process of finding a mortgage – what does a Decision in Principle mean?
A A Decision in Principle, sometimes known as an Agreement in Principle or Mortgage in Principle, is a document from a lender that gives you an understanding of how much you may be able to borrow. It can be useful to show to estate agents if you’re looking to buy a house. Note, however, that a Decision in Principle isn’t the same as a mortgage offer – to obtain one of