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I am speaking to one in a couple of weeks time, but I already have a fairly good idea what sort of deals I will be able to get.
With the agreement in principle, apparently one would get a letter proofing that from the lender and that's the piece of doc some agents want to see before putting an offer forward for you...
Buying a house is sooooo annoying... can anyone lend me enough money to become a cash buyer... currently I could probably afford buying a garage outright.
ExTra-
some agents want to see before putting an offer forward for you...
Estate agents are legally bound to put forward any offer made to the vendor within 24 hours. The mortgage in principle is just a phone call to a broker like @hugo7 described. It doesn't take long and doesn't really mean anything because the bank can always change their mind but it will give ou a good idea of what's affordable.
Arducius
I don't know if they are lying, but a "mortgage in principle" is meaningless.
Work out your deposit, your income, how much you can afford a month and call a mortgage broker. They will tell you what you roughly can borrow. Add this to your deposit and you have what you can afford.
If asked just say, yes, you have a mortgage in principle.