Usually not. Lenders and brokers typically use a soft credit search when completing a mortgage in principle application, which doesn't leave a mark on your file.

When you go through to the full application stage, most lenders carry out a full credit search, which will leave a mark on your credit record. This isn’t a negative mark, however, and will only impact you if you’re declined and want to apply again with another lender.

Mortgage In Principle

Yes, you can theoretically have as many as you like. If you’ve been approved, but feel that another lender might offer you more, there’s no harm in applying with them - so long as they only use soft credit checks.

If you’re concerned, ask whoever is completing the application for you. At Mojo Mortgages, we always use soft search credit checks at MIP stage.
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Yes, it’s possible, although in some parts of the UK estate agents won’t allow you to view the property or make an offer on it without one.

It can also increase the gravitas of your offer. Many sellers will feel more confident if they know that your offer is a serious one if you’ve gone to the trouble of getting a MIP from a lender and should be able to provide the funds to buy their property.
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It depends on the lender and how much more or less you need to borrow. If you need a much bigger loan, however, the majority of lenders would want you to apply from scratch.

However, they are very quick to obtain, so even if you need to re-apply, it shouldn’t delay things too much, assuming you still qualify.

You can begin looking for your perfect home. Once you’ve found one that you love and had an offer accepted, you can begin the formal mortgage application process.

This can either be done directly with the lender, or if we’ve done your MIP for you, we can do that bit for you too. Having a mortgage broker, like ourselves, on your side, especially on your first mortgage, can be a great comfort.