Understanding Mortgage in Principle: Benefits, Limitations, and Essential Tips!

🏡 Welcome back to our channel! In today's video, we delve deep into the world of mortgages, focusing on the Mortgage in Principle. 🏡

📍 In This Episode:

• Understand the concept of Mortgage and Principal.
• Discover the good things and limitations of Mortgage in Principle.
• Learn about the lenders' perspective and what they look for.
• Know the role of credit scores and income in mortgage applications.
• Get insights on soft credit checks and their impact.
• Learn essential tips to ensure your deposit is valid for the properties you are looking at.
• Understand the importance of assessing property and home reports.

📍 Key Takeaways:

• Mortgage in Principle is an indication of potential lending, but it's not guaranteed.
• Lenders may use different credit score agencies at different stages.
• Ensure your income has been declared correctly.
• It's crucial to ensure your deposit is valid for the properties you're considering.
• Always keep your mortgage broker in the loop and show them the home report.

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Information = https://tfmortgages.co.uk/ 

Check Monthly Payments = https://tfmortgages.co.uk/mortgage-repayment-calculator 

Check How Much You Can Borrow = https://tfmortgages.co.uk/how-much-can-i-borrow

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