A 'Mortgage in Principle? (MIP)' sometimes known as an ‘Agreement in Principle’ or a ‘Decision in Principle’, is a document that lenders like us, provide to customers.
The MIP gives an indication of how much you could borrow based on the information you've given and some initial checks.
A 'Mortgage in Principle' is useful to have as proof to an estate agent or seller that you can afford to buy the property but is not a confirmed Mortgage Offer