This means you have been accepted for a mortgage or other financial product, but it will depend on issues such as a valuation report and confirmation of employment.

An agreement in principal is a step where there will normally be a credit check done. If successful, after this process you should be confident that you can receive your advance based on the terms of the mortgage product you have chosen.

AIP's will have an epiry date attached to them so it is important that the conditions stipulate in the agreement are met within that timeframe. Otherwise a new aip may have to be done. Agreement's in principal will also depend on personal, professional and financial circumstances being stable.