Savings
Whether you’re looking for instant access, annual bonuses or tax-free savings, we have an account that will help you achieve your savings goals.
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Mortgages
Whether you’re looking to buy your first home, move somewhere bigger, or simply get a better deal, we can offer a mortgage that suits you.
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Insurance & Planning
We offer Funeral Plans and Home Insurance through our partners
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About Us
Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Apply Online for a Decision in Principle
If you want to take out a mortgage, you’ll need a Decision in Principle first.

Our online Decision in Principle form takes around 5 minutes to complete.

There’s no fee, no effect on your credit rating, and no obligation to take out a mortgage with us.

Before you start, you will need the following information:

  • The cost and location of the property you want to buy. If you do not have a specific property in mind, please provide estimates.
  • How much you want to borrow (the property price minus your deposit).
  • Employment status and salary of all applicants.
  • Monthly cost of credit commitments for all applicants, such as loan, car finance, credit card and child maintenance payments. You don’t need to include living expenses such as food, petrol, bills and rent.
Decision in Principle - FAQs
What is a Decision in Principle?
A

A Decision in Principle is a certificate showing that a lender is willing to give you a mortgage based on the information you have provided.

 

You might have also heard it called a Mortgage in Principle, or an Agreement in Principle. 

How do I get a Decision in Principle?
A

The lender will ask for some basic information to see if you can afford the mortgage you want to apply for.

 

If they think you can keep up the repayments, they will provide you with a Decision in Principle.

 

You can apply for a Decision in Principle from us here.

Does a Decision in Principle affect my credit rating?
A

This depends on the lender, as different mortgage providers carry out different types of checks.

 

At Monmouthshire Building Society, we perform a ‘soft’ credit check at the Decision in Principle stage - this won’t affect your credit rating.

When do I need to get one?
A

You will need to get a Decision in Principle before you make a full mortgage application.

 

It can be helpful to get a Decision in Principle while you are house-hunting, as estate agents and sellers will take any offers you make more seriously.

 

Bear in mind though, your lender will only honour the Decision in Principle for a limited amount of time - ours lasts around 30 days.

 

You’ll have to get another one if it runs out before you make a full mortgage application, so look for a Decision in Principle that won’t hurt your credit rating.

Does a Decision in Principle guarantee my mortgage offer?
A

No - a Decision in Principle is based on limited information about you as a borrower, so it is not a guarantee.

 

If you proceed with a mortgage application the lender will carry out more in-depth checks. Based on these checks, the lender may decide that the mortgage you have requested isn't suitable for you at this time.

Do I have to take out a mortgage with you if I get one?
A

No. If you change your mind about which lender to go with, or decide not to buy at all, that’s not a problem.

 

As we don’t leave a ‘footprint’ on your credit file until you reach the full application stage, there are no consequences if you decide not to apply after receiving a Decision in Principle from us.

How much does it cost?
A

A Decision in Principle is free of charge from most lenders, including Monmouthshire Building Society.

Your home may be repossessed if you do not keep up repayments on your mortgage.