"These deals will be attractive to first-time buyers who want to get onto the property ladder"
Digital Mortgages by Atom bank has announced this morning that it is expanding its range of products by launching a new first-time buyer range.
In addition to the new range, the lender is also extending their existing product line by adding 95% LTV mortgages across all of their existing mortgage products.
Aiming to help first-time buyers get their foot on the property ladder, the lender is offering £500 cashback to those wanting to buy their first home, along with a free valuation and no product fee. The new first-time buyer range will be available for mortgages between 80 - 95% LTV.
The range consists of two, three and five-year fixed rate mortgages with rates starting from as low as 2.24%.
They are adding 95% LTV products to their existing range, for purchases and remortgages with fixed terms of 2, 3 and 5 years with no product fees.
To make it easier for first-time buyers to buy their first home, and to increase flexibility across their whole range of mortgages, Digital Mortgages by Atom bank has also recently announced a number of criteria changes in line with broker feedback. Changes include removing the £300,000 limit on FTB applications and increasing their maximum mortgage term from 35 to 40 years.
Maria Harris, Director of Intermediary Lending, said: “It’s great news that we’re expanding our mortgage range, offering our mortgages to a wider range of customers. These deals will be attractive to first-time buyers who want to get onto the property ladder - it’s hard enough to find the money for your first home and we know that taking away fees and giving cash-back helps.
We want to make the journey of buying a first home easier by offering real, tangible support to our customers, in conjunction with our network of independent, dedicated mortgage specialists who offer the best advice and guidance.
We realise the importance of providing our brokers with the best possible products and service, and we’re constantly striving to do just that! We want to be a bank that’s not only looking out for customers, but also for the broker community too.”