Atom Bank launches Near Prime Mortgages package

Atom bank, has launched an attractive new Near Prime mortgages – available for even more customers ..

Atom bank is one of the first to introduce the scheme, with data from PWC suggesting there may be up to 14 million people in the UK with less than perfect credit history struggling to access credit from mainstream lenders, despite only having minor blemishes on their credit history.

For those hoping to get a mortgage application underway before the Stamp Duty holiday begins to taper off at the end of the month, this scheme comes just in time. The new package has been curated with the aim of meeting the needs of customers who aren’t currently served by mainstream banks and mortgage lenders – by offering support and guidance to those with financial indiscretions. The launch of Near Prime mortgage rang allows borrowers with missed payments, CCJs or defaults to be considered for loan offers. 

Atom’s Near Prime mortgage scheme is open to both new and existing customers, whether you’re a first time buyer or looking to remortgage.

Paul Elliott, Head of Mortgages, at Atom commented:

“In the majority of high-street banks, mortgage applications are rejected when customers have less than perfect credit. It can be incredibly difficult, especially in the current housing market for borrowers with anything slightly less than perfect credit to get on the property ladder.  We’re delighted to be able to offer our competitive rates,  help and advice to these customers and give more people in the UK the opportunity to become homeowners. It’s important to us that we extend the availability of credit within the UK lending market for those wishing to own property. We work with independent brokers who offer unbiased advice to customers, saving time and effort in the application process. Those applying for Near Prime mortgages will be allocated brokers experienced in these kinds of cases and  if Atom can’t help you, we will find someone who can.”

For a lot of borrowers, being unable to get progress updates on applications is often a cause for concern. As an app-based bank, once an application is approved with Atom, customers can track the progress of their mortgage securely and in real time on the app – offering full transparency on the process to give users peace of mind. 

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