
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.”
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...