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Buying a Property.
Mortgage in Principle

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Do I need a mortgage in principle to make an offer?

In order to bid on a property, it is advisable to have a mortgage in principle (also known as an agreement in principle, mortgage agreed in principle, decision in principle, or a mortgage promise). 

This means that a mortgage provider has confirmed in writing that they are prepared to lend you money to meet the mortgage payments.

The Glasgow Law Practice offers the services of our both highly experienced estate agent team and our specialist property lawyers. We understand that navigating the property market can be exciting yet stressful, and that both first-time buyers and those who already have a foot on the property ladder will have various queries in respect of purchasing a property. 

If you choose to work with us, you can be assured that we will be on hand to answer any questions you may have, and will guide you through the process of buying your new home as quickly and efficiently as possible.

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Securing a mortgage in principle

Following a credit check and discussion of your income and funds available for a deposit, it is usually possible to obtain a mortgage in principle within 24 hours of contacting the appropriate lenders. 

The documents will normally, however, have a set period of validity of up to 90 days. Additionally, you will need to make a full mortgage application after your offer to buy the property is accepted – the mortgage in principle should not be confused with a mortgage offer. This should be factored into the timings of your property search. 

At The Glasgow Law Practice, our property and conveyancing solicitors will be able to advise on the appropriate timeline in terms of securing the mortgage in principle and making firm offers.

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Why obtain a mortgage in principle?

A mortgage in principle is not technically legally required for an offer on a property to be valid. However, the seller will generally not take the offer seriously if you do not have proof that you will be able to borrow the required funds to pay for the property. As such, it is unusual for offers to be accepted where the buyer does not have a mortgage in principle. 

This can be particularly important if you are seeking to purchase a property in a competitive market. In some parts of Glasgow, properties are put on the market and sold very quickly. A seller aiming for the sale to be completed in a short period of time will wish to rely on a credible buyer with a mortgage in principle.

Navigate Glasgow's property market with ease.

When it comes to buying or selling a home in Glasgow, having local knowledge and expertise is key. Our team of conveyancing solicitors have extensive experience in the local market, allowing us to guide you through the process with ease. From making an offer to completing the sale, we’ll be there every step of the way.

Our conveyancing fees

How much does conveyancing cost in Glasgow? Our fees are competitive and value for money. Sample fees for typical transactions are below:

Selling from

£595

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Buying from

£595

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