What this implies varies by lender, but could be a) an explanation that they are willing to lend the amount requested, b) the maximum amount they are willing to lend, or c) simply a statement clarifying that your mortgage application has been accepted in principle. In principle, a mortgage can also save time in the purchase process, both in terms of accepting your offer and speeding up the mortgage application process. When we surveyed more than 3,000 homeowners in July 2019, 53% of them said they had reached an agreement in principle before applying for their mortgage. About 25 percent said they didn`t know or didn`t remember getting one, and only 25 percent said they didn`t. Remember that if any of the details you specify when applying for a mortgage change in principle during the validity period (for example.B. if you change jobs), you may need to contact your mortgage broker or lender to ensure that your mortgage is in principle still valid and, if necessary, renew the application. . . .