Agreement In Principle

Credit slang for ‘you appear to meet the criteria, but we’ll have to check things out’. Not legally binding, so don’t rely on this until you have a full credit offer. An agreement in principle is an arrangement that a lender may make with a consumer before they formally take out a loans product. This kind of arrangement is often seen within the mortgage sector.

If you're looking to take out a mortgage then it can be difficult to know how much you can afford to spend on a property before you make your mortgage application. Whilst you should not commit to any other arrangements based on an agreement in principle, it does give you the relevant information you need and an informal commitment from the lender to allow you to borrow the money.

Specific details of the agreement will be subject to change or withdrawal if your circumstances change or you don't meet the lender's criteria.

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Accident Sickness And Unemployment Insurance (ASU)
Additional Cardholder
Adjudication
Administration Order
Adverse Credit
AER
Agreement In Principle
Amortisation
Annual Equivalent Rate (AER)
Annual Fee
Annual Percentage Rate (APR)
Annuity Mortgage
Application Score
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Arrangement Fee
Arrangement To Pay
Arrears
Attachment Of Earnings Order
Bank Reference
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Base Rate
Bridging Loan
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Callcredit
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Charge Card
Charge Over Equitable Interest
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CIFAS
CIFAS Case Type
CIFAS Entry
CML
Collar
Collateral
Commission
Consolidation Loan
Consumer Credit Act 1974
Consumer Credit Trade Association.
Cooling Off Period
County Court Judgment (CCJ)
Court Information
Credit
Credit Agreement
Credit Card
Credit Card Cheques
Credit File
Credit Impaired
Credit Limit
Credit Rating
Credit Reference
Credit Report
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Credit Search
Data Sharing
Deed Release Fee
Default
Delinquent
Delinquent Account
Delphi
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Depreciation
Disassociation
Discounted Rate Mortgage
Drawdown Loan
Dynamic Delinquency
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Electoral Roll
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Enquiry
Equifax
Equity
Equity Release
Experian
Extended Credit Taker
Fair Isaac
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Financial Association
Financial Ombudsman Service
Financial Services Authority (FSA)
First Mortgage
Fixed Rate
Fixed Rate Mortgage
Flexible Loan
Forced Sale Value (FSV)
FSA
FSV
Full Payer
Further Advance
GAIN
Garnishee Order
General Insurance Standards Council (GISC)
Geodemographic Data
GISC
Gone Away Information Network (GAIN)
Guarantor
Health Insurance
Higher Lending Fee
Household Score
Hunter
Joint And Several
Kerbside Valuation
Lending Multiplier
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Lien
LTV
Lump Sum Reduction
Money Laundering
Mortgage
Mortgage Indemnity Insurance
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Mortgagee
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Multiplier
Negative Equity
Non Status Mortgage
Notice Of Arrears
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Notice Of Default
Notice Of Default Sums
Offset Mortgage
Ombudsman
Oral Examination
Overdraft
Overdraft Limit
Overpayment
P60
Payment Holiday
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Pension Mortgage
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Plastic
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Principles Of Reciprocity
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Schumer Box
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Scottish Decree
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Set Off
Share
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Third Party Data (TPD)
Title Deed
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Tracker Mortgage
Trade Organisation
Trust Deed
Underwriters
Unsecured Loan
Valuation
Victim Of Impersonation
Wait Period
Warrant Of Execution
Wescore
Writ Of Fi Fa
Z Score

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