Halifax Agreement Principle
An agreement in principle means that a borrower has been accepted for a mortgage, but the final agreement depends on issues such as an evaluation report and job confirmation. „The introduction of this new Instant Agreement (AIP) tool significantly reduces the amount of time a customer has to spend on a Halifax credit decision,“ he said. „The ability to finalize the app along the way on mobile phones and tablets helps our customers adapt the process to a hectic schedule. We are constantly looking for ways to serve our customers in the way they best meet their needs, and this new offering solidifies our reputation as a bank that gives our customers additional resources. A difficult credit search is a careful review of your credit report. Any financial institution that runs one of these companies should get your permission. The advantage of „hard“ research is that the lender looks at your situation very closely. If you pass the credit score, it is very likely that your application will ultimately be successful. The only thing that can really go wrong from there is if, for one reason or another, you cannot provide satisfactory documentation to back up the information you have disclosed. Either that or it turns out that you made false statements.
However, the bad news about a difficult search is that it leaves a „fingerprint“ on your credit file. This means that anyone who looks at your report in the future can see that you have done a search. That`s not necessarily a bad thing, but if you`ve recorded multiple footprints in a short period of time, then it might seem to be asking for a lot of credit at the same time. The fingerprint does not indicate whether your application has been successful or not. However, if you have several searches in a few weeks, then the lenders` systems might mistakenly assume that you are rejected because of; „If not, why go to lender number 2, unless the number one lender said no?“ The strange hard print on your drive from time to time is not much. There`s no reason to think about it too much, just be careful not to have too much.