Digital Mortgages by Atom Bank

Atom Bank’s mortgage offers are valid for six months, but if you are buying a new-build and there are construction delays on your property, they may be willing to revise and extend your offer for a further three months.

As with all mortgage lenders, Digital Mortgages will review an applicant’s credit history, including their credit score, outstanding debts, and payment history, to determine whether or not they are a suitable candidate for a mortgage. The credit check is an essential part of the application process, and it helps assess the risk of lending to the applicant. It is important to keep in mind that multiple credit checks in a short period can negatively impact an applicant’s credit score, so it’s important to only apply for mortgages that the applicant believes they are eligible for.

Digital Mortgages will confirm the date of the first mortgage payment after the completion stage.

On Digital Mortgages fixed-rate mortgage deals, you can make an overpayment of up to 10% of your outstanding balance each year without incurring an early repayment charge. If you do make a payment over 10%, you will be subject to Atom Bank’s early repayment charge, so this is something to keep in mind if you want to pay your mortgage off sooner.

Details of how much you will be allowed to overpay will be on the terms and conditions of your mortgage.

When your mortgage expires, your mortgage will fall onto its standard variable rate. As this will likely be higher than the rate you were on, it is wise to remortgage onto a new fixed rate or tracker mortgage.

You have the option of changing your mortgage rate before your current deal ends, but you may incur their early repayment charge. You might also be subject to their early repayment charge if you decide to move to a new lender before the expiry date of your existing mortgage.

While it’s wise to wait until near the end of your deal before arranging a new mortgage, it might still be in your best interest to remortgage early if it means you will be financially better off on a more affordable mortgage, despite the early repayment charges. We can help you do the sums, so contact our team if you do want to pay off your mortgage early.

Trustpilot, MoneySavingExpert, and Review Centre are just some of the consumer websites that discuss residential mortgages and their buy-to-let mortgage products. As well as checking out these sites, you should also look for the relevant forums online as you will be able to receive information from Atom Bank’s existing customers.

As is the case with every mortgage provider, there will be a range of fees attached to your loan. These include the product fee, booking fee, and valuation fee. There is also the early repayment charge if you move to a new deal before the end of the mortgage term.

Digital Mortgages require each customer to have building insurance before agreeing to lend to them. Contents insurance is also recommended but this isn’t a customer requirement.