Atom Bank launches portfolio buy-to-let pilot

Published on

Digital Mortgages by Atom Bank has entered the buy-to-let mortgage market with an exclusive intermediary pilot.

Initially the range will include two and five-year tracker portfolio buy-to-let remortgage products for landlords who have between four and 25 properties in their portfolio.

There will be a 1% product fee and maximum loan term of 25 years.

Rates at launch include a two-year base rate tracker, 75% LTV remortgage at 3.70% (tracking at 2.95% above base rate); and a five-year base rate tracker, 75% LTV remortgage at 3.80% (tracking at 3.05% above base rate).

Selected brokers and their customers will also have access to no Early Repayment Charges and automated valuations will be used wherever possible.

Maria Harris, director of intermediary lending at Atom Bank, said: “We are delighted to announce our launch into the portfolio buy-to-let market.  As our mortgage proposition grows, we want to transform this market, making mortgages easy and transparent to buy and offering landlords a great all-round deal.

“The initial pilot with a select number of intermediaries will help us make real time improvements before we roll-out to a wider audience. We’re also already working on extending the range to include fixed rate products.“

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...