Decision in Principle (DIP) | Definition
A Decision in Principle (DIP) is where a mortgage lender pre-vets a borrower (homebuyer) and confirms how much they are prepared to lend to the borrower.
With a DIP, a buyer can position themselves as a motivated and serious buyer when making an offer.
A DIP can speed up the mortgage approval process once a buyer has found a property to buy.
A Decision in Principle is also sometimes called an 'Agreement in Principle (AIP)'.
How we can help you
If you are buying, selling, remortgaging or transferring equity in a property, our solicitor panel can help make the process as straightforward and stress-free as possible.
- No Move, No Fee Guarantee
- Fixed fee conveyancing service
- CQS-accredited panel solicitors
Fixed fees from £415 inc VAT
Get a Conveyancing Quoteto talk?
Speak to an expert about your home move.
Open Mon-Fri 9am-8pm, Sat/Sun 10am-4pm.
Call FREE 0800 612 0377
or arrange a callback
Author:
Chris Salmon, Director
About the author
Chris Salmon is a co-founder and Director of Quittance Legal Services. Chris has played key roles in the shaping and scaling of a number of legal services brands and is a regular commentator in the legal press.