An Approval in Principle (AIP) is also known as an Agreement in Principle, Decision in Principle, Mortgage in Principle or a Mortgage Promise. An AIP is useful if you want to know how much you could borrow. If you provide Post Office with a few personal details about you and anyone else who will be named on the mortgage we'll give you a statement of how much we'll be able to lend to you in principle (don't worry, we're not committing to anything at this stage). You'll need to request an AIP before completing a full mortgage application.

Your deposit will be one of the biggest costs when you pay for your property. Deposits usually range between 5% to 40%. It is generally the case that having a larger deposit will mean you can get a mortgage with lower interest rates. You can get an estimate of how much you may be able to borrow with our affordability calculator.

There are a few things to consider before you apply. We have some key lending criteria below:

• You must be at least 18 and your mortgage must usually end before you reach 75
• The term of the mortgage must be a minimum of five years and up to a maximum of 35 years
• You must have a clean credit history
• You must normally have a minimum household income of £20,000
• You must be buying a UK property
• You must be a UK resident or have full rights to reside in the UK

Yes. If you’re in a promotional period, you can overpay a minimum of £500 and a maximum of 10% of the outstanding mortgage balance (as at the prior 31 March) without incurring any early repayment or administration charges. Once the promotional period is over, the amount you can overpay is unlimited, but if you pay off your mortgage in full charges may apply.

You can apply for a Post Office Mortgage either online or over the phone. By phone Call us on 0800 707 6206. We’re open 9am – 5pm Monday to Friday – Closed on Saturday and Sunday. Online If you're thinking about applying online make sure you've reviewed our product range in full. If you'd like some help along the way, our experienced advisers are just a call away.

If you need help deciding which mortgage is right for you, you can speak with one of our mortgage advisers over the phone.