DIP (Decision in Principle)

A Decision in Principle (DIP) — also called an Agreement in Principle (AIP) or Mortgage in Principle — is a conditional statement from a lender indicating they would likely lend you a specific amount, based on a soft or hard credit check and basic income information.. It is not a formal mortgage offer but is usually required by estate agents before making an offer on a property. A DIP typically expires after 60–90 days.