I am looking to buy my first home (UK). Because we are a bit nervous, we are visiting 3 different mortgage advisors with the intention of obtaining the best deal possible. All of them say that we won't have any problems to have a mortgage but of course they need to formally ask the lenders (mortgage agreement in principle), and once we have their confirmation we can start to offer.

My question is, will there be any problem if the three of them look for a mortgage agreement in principle at the same time? Our understanding is that we are not tied to any one lender until we go ahead and decide to buy a property, so the only risk of having 3 mortgage advisors asking for mortgages in principle is paying the mortgage advisor fees for his/her time looking into mortgages. Hope I am being clear!

  • 1
    The fees may not even be part of the risk. Many mortgage brokers only charge on completion of the purchase. Some don't charge (you) at all. Plus you can do your own searches online. Aug 6, 2019 at 10:47

1 Answer 1


A decision in principle creates a soft credit search on your records, once you decide to proceed with the mortgage offer then they perform a hard credit search.

There are no charges for a decision in principle from UK mortgage lenders, but it can be a lot of paper work to go to each individually.

What I would highly recommend, and what I did myself, is to go to an single independent mortgage broker, don't use multiple, just find a good one based on reviews and recommendations. If you're in the East Midlands I can recommend a great one.

They usually charge a small fee (£500-£600 on completion of the purchase is reasonable) to provide you with the best mortgage options for you and your circumstances. They do all the hard work for you and secure you the best deal, really you only need a decision in principle from one lender with the best mortgage rates/offers for you.

At the time when I took my mortgage out the broker found a deal with Halifax. Halifax paid £1000 on completion for the particular type of mortgage I took out as a 'welcome bonus', this covered all the costs of the broker and some, so it was very worth while and I wouldn't have known about it had it not been for the broker.

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