Atom bank has announced that it is entering the BTL mortgage market with an exclusive intermediary pilot.
The range will initially include two- and five-year tracker portfolio BTL remortgage products for landlords who have between four and 25 properties in their portfolio.
The two-year tracker will have a 75% LTV remortgage at 3.70%, while the five-year option will have a 75% LTV remortgage at 3.80%.
Products will have a max loan term of 25 years, while selected brokers and their customers will have access to no early repayment charges.
Atom’s select panel of intermediaries includes: Mantra Capital, Aspire Commercial Finance t/a SWBF, Platinum Money, Newsource Commercial Finance, Mortgage & Finance Arena and Crystal Specialist Finance.
The specialist bank will also use automated valuations wherever possible to speed up the process and keep costs low.
Maria Harris, director of intermediary lending at Atom bank (pictured above), 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.”
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