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.“
