The lender will carefully review your financial history, including bank statements, salaries and any additional income, employment history and address, how much deposit you have, and all other savings. This is called accessibility control. If you miss payments for your current credit contracts or if you default on credit contracts, between the time you normally obtained a mortgage and you applied for your mortgage, you may find that your mortgage may refuse your mortgage application. If the information you complete on your mortgage agreement in principle is different from the information you completed when you applied for your mortgage, then the mortgage lender may refuse your mortgage application, even if they gave you a mortgage contract in principle. This is because Thye may find error or inconsistency as a sign of someone lying. After getting an agreement in principle, you are now taken more seriously by home sellers and real estate agents, as this proves that you have the ability to buy the homes they are trying to sell. To give you the best chance of being approved next time, try to indicate the possible reasons why you were rejected and work to convince lenders that you are ready for a mortgage. Don`t forget to stream your apps over time to prevent your score from dropping. At this point, we will have an idea of the other support documents that the lender will need and we will send them to the lender`s processing department, either by email or fax. It is important that you get this part correctly, as sending incorrect documentation or delays in sending it can cause long delays in processing your application. An agreement in principle should not affect your credit score, as most mortgage lenders enter into an agreement in principle with a soft credit check that leaves no one but you visible footprints.
Since you are the only one who can see the agreement in principle, make sure it doesn`t affect your score.