"We strongly believe that offering mortgages via independent experts will give our customers the best service and the very best advice when choosing a mortgage."
From today, Atom Bank will offer residential lending including self-employed, contractors, lending into retirement, purchase, remortgage, shared ownership, first-time-buyers and new-build, with buy-to-let mortgages coming soon.
Once a mortgage has been recommended by an intermediary, customers can log in via the Atom app and track their Decision in Principle and application progress, receive all updates and communication, accept their mortgage offer, and keep and store all key documentation.
Atom says its mortgages have been designed "to remove the frustrations of the traditional application process" by becoming the first lender to provide instantaneous updates to the intermediary and customer directly to an app.
Atom obtained its banking licence in June 2015 and launchedin April with two Fixed Saver accounts, along with SME lending via a panel of specialist business intermediaries.
Atom’s Director of Retail Mortgages, Maria Harris, said: “Our mortgages are designed to be easy to understand, with fair and transparent fees and no charges where there isn’t a true cost. We make sure our customers are updated in real time directly via their App. We are also keen to make the process of buying a house quick and painless, in some cases mortgage offers can be made on the same day.
“We strongly believe that offering mortgages via independent experts will give our customers the best service and the very best advice when choosing a mortgage. Our ultimate aim is to help people get what’s right for them, and for them to have the best experience along the way. Customers can find an intermediary who is able to discuss Atom mortgages via our customer support team. In time, this too will be managed via the App.”
Atom’s CEO, Mark Mullen, added: “Buying a home can be hugely exciting, but banks are playing with people’s dreams when they make the process so difficult. We want to change this – it should be a positive experience. Old legacy processes that are institutionalised at the traditional banks simply don’t exist at Atom because we’ve built this bank from scratch. We can offer mortgages that are great value, and a service that is fast, informative and transparent. This is genuinely a revolution in mortgage lending.”
