Mortgage News
Atom becomes Bank of China distributor
All Types of Mortgages (Atom), the Horsham-based mortgage packager, became the fifth packager to sign a deal with the world’s third largest bank to offer Bank of China’s residential, buy-to-let and commercial mortgages.
“Atom is experiencing positive growth in the emerging market and the addition of another lender to our panel of offerings demonstrates that lenders do still want to lend,” said sales and marketing director, Dale Jannels.
“The prime buy-to-let and residential lender is testing the water with us because it knows that we are on the largest network panels and have access to all the key UK distributors,” Jannels added.
Bank of China deals start at 2.8% for residential borrowers and offer LTV s of up to 75% on residential and 65% for buy-to-let and commercial property with no credit scoring.
Bank of China launched into the market in July last year, and joined the Council of Mortgage Lenders three months later in October 2009.
The bank’s other packager distributors include Solent Mortgage Services, Complete Mortgage and Loan Services, Connect Mortgage Group and Savills Lending Solutions. Connells is the Chinese bank’s official surveyor in the UK.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore