Mortgage in Principle

Whether you're looking to buy your first home, find a new home, or remortgage your current property, we're on hand to help. Once you have a Mortgage in Principle, you can apply for a Co-operative Bank mortgage with us.

Step 1: getting a Mortgage in Principle

How to get a Mortgage in Principle

Check your eligibility first

Review the criteria below to make sure you're eligible for a Co-operative Bank mortgage.

Find out if you're eligible

Book your phone appointment

If you're eligible, fill in our online form to arrange a Mortgage in Principle phone appointment. One of our mortgage colleagues will contact you to confirm a specific appointment time slot, either by email or phone.

Wait for us to call

We'll call you at the arranged time. During the Mortgage in Principle appointment, we'll check some key eligibility information and complete an affordability assessment.

By the end of the appointment, we'll confirm if you're eligible for a mortgage and let you know how much we're willing to lend you. This call will take approximately 30 minutes. 

A Mortgage in Principle (MiP) lets you know if you’re eligible to apply for a mortgage. It also tells you how much you can borrow in order to buy or remortgage a property.

It’s a step you can take before applying for a mortgage, or remortgaging.

You don’t need to bank with us to get a Mortgage in Principle. You just need to tell us basic information about your current financial situation, and how much you want to borrow.

Step 2: applying for a Co-operative Bank mortgage

If you’re already in a position to apply for a mortgage (for example, you’ve already found a property you’d like to buy or are just looking to remortgage), we will book your advised mortgage appointment straight away.

If you’re still searching for the perfect property or need some time to think about everything, we can arrange to call you back at a later date.

During your advised mortgage appointment

Here’s what to expect during your advised mortgage phone appointment.

  1. Firstly we’ll gather all the information we need to ensure we recommend the best mortgage for you. This will take around 60 to 90 minutes.

  2. We’ll then take a short break whilst we review your information and put together a mortgage recommendation.

  3. After we’ve done this, we’ll call you back and run through the recommendation. If you’re happy to proceed, the mortgage application can be completed on the same call. This will take around 30 minutes.

The whole appointment will take approximately 2 hours in total.

  1. After your mortgage application is completed during the call, you’ll need to send us any relevant forms and supporting evidence. We may also ask you to send over any property valuation details.
  2. If we need anything else from you in the meantime, we’ll give you a call.
  3. Once we confirm that your application is successful, we’ll send you and your solicitor the final offer.
  4. If you accept our offer, you can then begin the final process of remortgaging your current property, or buying your new home!

If you are offered a mortgage, it will usually take 6 to 8 weeks for your funds to be released. Please note that timescales are subject to change

Buying your first home?

If you have any questions about getting on the property ladder, check out our handy First Time Buyers Guide.

First Time Buyers Guide (PDF)

Eligibility

Before you apply for a Mortgage in Principle, please review the following criteria to make sure you're eligible

To be eligible for a Co-operative Bank mortgage, you need to:

  • Be a UK resident with the right to remain indefinitely in the UK
  • Be aged 18 to 69
  • Intend to use the property as your main residence
  • Want the mortgage for a property in England, Wales or Scotland
  • Not require one of the following types of mortgage: Shared Equity, Shared Ownership, Right to Buy, Guarantor, Help to Buy, Buy to Let, or Share to Buy
  • Not be using the mortgage funds to consolidate any debts
  • Have never had a home repossessed or voluntary possession
  • Have been discharged from bankruptcy for more than 6 years.

You also need to have not had:

  • More than one late or missed mortgage payment in the last 6 months
  • More than two late or missed payments on credit agreements (loans, credit cards etc.) in the last 6 months
  • A CCJ for more than £100 registered in the last 6 years
  • A default registered in the last 12 months
  • A default of more than £500 registered in the last 6 years.

Arrange your Mortgage in Principle appointment

If you meet our mortgage criteria and would like to get a Mortgage in Principle from The Co-operative Bank, book a phone appointment by filling in our online form.

Why not call our helpful team on 0800 526 350 to answer any unanswered questions you may have.

Lines are open 9am-5pm Monday-Friday. Call changes apply

Things you should know

Our range of current mortgage products are updated on a regular basis. Products cannot be guaranteed until a full application has been submitted.

If you're unsure of any terms found on this page, please check this against our Glossary of Terms.

Glossary of Terms (PDF)

Important information

These important documents lay out our responsibilities to you and the terms and conditions of our products and services.

Mortgages legal information

PDF documents

Tariff of charges (PDF)

General information for regulated mortgages (PDF)

How we use your personal information (PDF)

Not eligible? There may be other options

If you don't meet the criteria to apply for a mortgage direct with ourselves, there may be other options available to you.

The Co-operative Bank for Intermediaries

Want a mortgage with the UK’s only high-street bank with a customer-led ethical policy? Mortgages such as Buy to Let and Help to Buy are only available through a mortgage broker and our intermediary mortgage brand, The Co-operative Bank for Intermediaries. The decision to appoint an intermediary to act on your behalf must be made on the basis of your own enquiries and The Co-operative Bank has no responsibility for the advice or assistance provided by the intermediary.

Co-operative Bank Logo

L&C Mortgages

L&C Mortgages provide fee free mortgage advice. Their online mortgage finder lets you compare the deals you're eligible for and submit a request for a personalised recommendation, or you can talk to a mortgage adviser over the phone.

This link is provided for convenience only and should not be taken to constitute an endorsement or an approval by The Co-operative Bank of any of the products or services of L&C Mortgages. The Co-operative Bank receives no commission from L&C Mortgages and accepts no responsibility for the accuracy, legality or content of L&C Mortgages website.

Visit L&C Mortgages

L&C Mortgages Logo

What makes us different?

With a customer-led Ethical Policy that’s at the heart of what we do, you’ll have peace of mind knowing that your mortgage is being funded by an ethical bank.

Learn more about our values and ethics

By choosing a mortgage with us, you’ll be supporting Centrepoint

For every eligible mortgage sold through our channels, we give £5 to the UK’s leading charity for young homeless people, Centrepoint (terms apply).

The donation will help fund The Centrepoint Helpline. It’s a phone and web chat service where people can get advice if they (or someone they know) are currently homeless or facing homelessness.

Learn more about our work with Centrepoint

Terms of the donation

Existing mortgage customer product switch applications will be eligible for a £5 Centrepoint charity donation, on completion. Other transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The Bank makes a payment to Centrepoint quarterly, for eligible completions during the previous quarter.

The £5 donation will be made for each eligible mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time. For full terms and conditions please visit our website.

Centrepoint is a registered charity in England and Wales, No. 292411.

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

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