Do I need a mortgage in principle to view a property?

Yes, absolutely. This advice has changed due to fluctuating mortgage rates.

Why it matters now

Mortgage rates have been changing frequently. Affordability that seemed realistic six months ago may have changed significantly. For example, a budget of £200,000 earlier in the year might now be closer to £150,000 due to rate increases.

Our recommendation

Speak to a mortgage adviser and get an agreement in principle before viewing properties. This ensures you know exactly what you can afford and prevents disappointment from viewing homes outside your budget.

Having a mortgage in principle also shows sellers and estate agents that you’re a serious, prepared buyer, which strengthens your position when making an offer.

At Bridges Properties, we always recommend getting financial advice early in your property search to avoid wasting time on unsuitable properties.