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)'.

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Chris Salmon, Director

Chris Salmon, Director