Atom Bank launches first-time buyer mortgages
The digital lender’s new mortgages will be available for prospective buyers at between 80 – 95% LTV and will offer £500 cashback, along with a free valuation and no product fee.
The range consists of two, three and five-year fixed rate mortgages with rates starting from 2.24%.
At the same time, the Durham-based bank is accepting applications from borrowers with a deposit of only 5% across its existing range of purchases and remortgages with fixed terms of two, three and five years with no product fees.
Following broker feedback, Atom Bank has also removed the £300,000 limit on first-time buyer applications and increased maximum mortgage terms from 35 to 40 years.
Director of intermediary lending, Maria Harris, 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.”