The AIP was a sketch; the full application is the real thing — your documented finances tied to one specific property, examined by an underwriter with the power to say no. Submitted promptly and cleanly, it becomes a mortgage offer in two to four weeks. This step is about clean, and about not breaking your own application while it is being read.
The evidence pack
Expect to supply: photo ID and address history, three months of payslips and bank statements (or two years of self-employed accounts/SA302s), your deposit evidence matching the conveyancer's AML pack, and details of every commitment — loans, cards, childcare, other properties. A broker will assemble and submit this; going direct, you will. Inconsistencies between documents and the application form are what stall underwriting, so check every figure against its evidence.
What underwriting does
The lender hard-searches your credit file, verifies income and outgoings, applies its affordability and stress models, and instructs a valuation of the property (next step). Underwriters can ask follow-up questions — a large deposit into savings, a gap in address history — and fast, documented answers keep the file moving. Slow answers put it to the bottom of the pile.
Do not change anything
From submission to completion, your finances should be a still pond: no new credit, no missed payments, no job changes if humanly avoidable, no unexplained large transfers, no 'buy now pay later' furniture for the new house. Lenders can and do re-check right up to completion day; the application is approved for the person you were on paper, so remain that person.
Your action list
Practical tips
- Use the same deposit evidence for lender and conveyancer — assembling the AML pack once, well, serves both.
- If a genuine change is unavoidable (redundancy, new job), tell the lender proactively; discovered changes read as concealment.
What can go wrong
- An AIP is not approval: the full application can still fail on evidence, affordability detail or the property itself — commit nothing non-refundable before the offer.
- New credit during underwriting — even a phone contract — can trigger a re-score at exactly the wrong moment.
- PropertySquares provides education, not financial or legal advice. Verify current rules and obtain advice for your circumstances before acting.