What is a Decision in Principle?

Before a full application, you'll need to get a Decision in Principle - where we'll tell you if we can offer you a mortgage and exactly how much you’re able to borrow.
 

It takes as little as 10 minutes

With some details from you we’ll tell you whether we can lend to you and how much.

It won't affect your credit rating

Our checks will not appear on your credit file at this stage of the application.

It lasts for 30 days

If you need more time, you can easily retrieve your details and resubmit your Decision in Principle for reapproval.


How much could I borrow?

It helps at this stage to have an idea of how much you would be able to borrow for your mortgage.

Can I afford it?

We also have a repayment calculator which will give an estimated monthly repayment figure for the amount you want to borrow.
 

I'm ready to get started!

Ok, you just need to read the following first:

What do I need to hand?

We will ask for information about:

Your income

Including your salary, regular bonuses, and overtime. Also include any benefits received such as child maintenance.

Your outgoings

Your regular outgoings such as loan payments (including student loans), credit cards and overdraft usage. It also includes payments towards childcare and child maintenance or existing mortgages.

Am I eligible?

  • You need to be at least 18.
  • Be sure to check that you are on the electoral register at your current property.
  • You must reside in the UK at the time of application and either be a UK citizen or hold a European passport.
  • The mortgage property must be in the UK and where you intend to live.
  • We cannot take into consideration any income that is paid in or converted from a currency other than UK sterling.

Anything else?

  • To help things go smoothly, please read our lending criteria.
  • We only offer Yorkshire Building Society mortgages.
  • If you want to apply for an interest only mortgage, or your mortgage term will extend beyond your expected retirement you will need to speak with one of our mortgage advisers by telephone.
  • If you are remortgaging and intend to use any funds for the purpose of debt consolidation, we cannot accept this type of application and you will need to seek independent mortgage advice.
  • When you request a Decision in Principle we will obtain details from a credit reference agency. To find out more about how your credit score affects your lending decision, why not take a look at our guide to income expenditure.

All set!

Now, how would you like to get a decision?

Online

By clicking 'Get started' you are confirming you have read and agree to the above.

Will I receive advice?

No

By phone

Talk to one of our mortgage advisers over the phone.

Will I receive advice?
Yes

0345 1200 100

9am - 5pm Mon-Fri
9am - 1pm Sat

 

I think my Decision in Principle expired...
No problem. Simply login to retrieve your expired DIP, check your details are still correct, and resubmit it for an updated Decision in Principle. As soon as we've approved your new DIP you'll then be able to complete your full mortgage application.

Decision in Principle

This is an assessment by a mortgage provider of your basic income details and expenditure. It tells you whether or not they would be able to lend to you and how much they would be able to lend.

You can find out more about how this works and what’s involved by viewing our Get a Decision in Principle page.

How to apply for your mortgage

There are two ways you can apply for a mortgage with Yorkshire Building Society:

  • Without advice ('execution only') - online.
  • With advice over the phone.

Getting a Decision in Principle online without advice

If you apply for a Decision in Principle online, this is known as an 'execution only' application. It’s designed for those customers who have a good understanding of the mortgage application process and have identified the product they want to apply for.

It does mean that you won't be eligible to receive advice on your mortgage application.  But if you change your mind and decide you would like some advice once you’ve started your application, you can swap how you apply for your mortgage from online to over the phone.

Before applying for your mortgage online, you must be aware of the following:

  • The product you wish to apply for including the interest rate and term of it.
  • Interest rate type e.g. fixed, or variable.
  • The early repayment charges associated with the product.
  • The price or value of the property you are looking to purchase.
  • The amount you want to borrow.
  • The length of term required.

If you choose a mortgage without advice (execution only)

  • You should be comfortable choosing the right mortgage without our advice.
  • We won’t advise if the mortgage you select is the right choice for your needs, which means that you’ll be giving up the benefits of Financial Conduct Authority protection on mortgage suitability.
  • We will still assess whether you can afford the mortgage.

If you are unsure about any of the above, a mortgage application with advice may be more suitable for you.
 

Benefits of receiving mortgage advice

A mortgage is likely to be the largest financial commitment you make in your life, therefore you may benefit from speaking to one of our mortgage advisers over the phone.

A mortgage adviser will be able to review your incomings and outgoings and make a suitable mortgage term and product recommendation to suit your individual needs.

An adviser will be able to provide guidance on the following, amongst other points depending on your circumstances and needs:

  • Mortgage term.
  • The interest rate on your chosen mortgage deal vs the product fee you may have to pay for selected deals where the interest rate is lower.
  • The affordability of the loan.
  • If a fixed or variable rate would best suit your circumstance.