Atom Bank launches digital mortgages

Atom Bank launches digital mortgages

Atom Bank, the first UK bank built exclusively for mobile, has announced the launch of residential mortgages, available through selected independent mortgage advisers.

Durham-based Atom launched in April this year with two fixed saver accounts and SME lending. It is now adding competitive residential mortgages to its product suite.

From today, the bank will offer residential lending via independent mortgage advisers, including self-employed, contractors, lending into retirement, purchase, re-mortgage, shared ownership, first-time-buyers and new-build properties, with buy-to-let mortgages coming soon.

Atom’s director of retail mortgages, Maria Harris, said: "Our mortgages are designed to be easy to understand, with fair and transparent fees and no charges where there isn’t a true cost. We make sure our customers are updated in real time directly via their App. We are also keen to make the process of buying a house quick and painless, in some cases mortgage offers can be made on the same day."

"We strongly believe that offering mortgages via independent experts will give our customers the best service and the very best advice when choosing a mortgage. Our ultimate aim is to help people get what’s right for them, and for them to have the best experience along the way.

Customers can find an intermediary who is able to discuss Atom mortgages via our customer support team. In time, this too will be managed via the App."

Atom Bank’s mortgages have been designed to remove the frustrations of the traditional application process, providing instant updates to the intermediary and the customer. The bank is the only mortgage lender to provide this service directly to an App. 

Atom’s CEO Mark Mullen said: "Buying a home can be hugely exciting, but banks are playing with people’s dreams when they make the process so difficult. We want to change this – it should be a positive experience. Old legacy processes that are institutionalised at the traditional banks simply don’t exist at Atom because we’ve built this bank from scratch.  We can offer mortgages that are great value, and a service that is fast, informative and transparent.  This is genuinely a revolution in mortgage lending."

Atom will be launching a full suite of products in the coming months and throughout 2017, including current accounts, debit cards, overdrafts and instant access savings, all of which will be managed via the App.