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Atom Bank enters buy-to-let market with portfolio landlord deals

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  • 05/11/2018
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Digital Mortgages by Atom Bank has entered the buy-to-let portfolio mortgage market through an initial pilot with select intermediaries.

 

Initially, the range will include two and five-year tracker portfolio BTL remortgage products for landlords who have between four and 25 properties in their portfolio.

Rates include a two-year base rate tracker, with 75% loan to value (LTV) remortgage at 3.70%, and a five-year base rate tracker, with 75% LTV remortgage at 3.80%.

Deals will be offered with a 1% product fee and maximum loan term of 25 years.

Selected brokers and their customers will also have access to no early repayment charges and automated valuations will be used wherever possible to speed up the process and keep costs low.

The list of intermediaries on the pilot include Mantra Capital, Aspire Commercial Finance, Platinum Money, Newsource Commercial Finance, Mortgage & Finance Arena, and Crystal Mortgages.

Maria Harris, director of intermediary lending at Atom Bank (pictured), said: “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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