Wondering if a “digital mortgage” from Atom bank is right for you? Take a look at our reviews from people with the mortgage to see what they have to say about using the UK's first “digital” bank. For now, only Available to intermediaries, Atom hope to ...
Read Full DescriptionWondering if a “digital mortgage” from Atom bank is right for you? Take a look at our reviews from people with the mortgage to see what they have to say about using the UK's first “digital” bank. For now, only Available to intermediaries, Atom hope to shake up the banking sector by offering digital-first products. Are you already an Atom Bank customer with one of their digital mortgages? Please leave a quick review of how you found the application process, the rates offered, and everything else! With the power of your reviews, we're helping drive change in financial services.
It was our first time applying for a mortgage and they made the whole process so simple. They offered us a great deal and assigned us a fantastic solicitor. I would, and have, recommend them to friends
I remortgaged to Atom as they had the market leading rate on a 5 year fix. the process was fairly smooth and the app made it easy to get the information and stay up to date. The one problem was the inefficiency of the law firm they chose to provide...
Read more I remortgaged to Atom as they had the market leading rate on a 5 year fix. the process was fairly smooth and the app made it easy to get the information and stay up to date. The one problem was the inefficiency of the law firm they chose to provide the (admittedly free) legal service. Perhaps I was unlucky in which firm was selected for me, but they missed my target completion date and so I had extra costs from higher interest rates with my original mortgage provider.
Edit: One thing I would add is that as the mortgage is app controlled, it can be difficult to read all the small print /T&Cs for the product on a phone. You can download to your phone these so that you don't get timed out of the app, but you may still need to crack out your varifocals.
Terrible company to deal with, after being accepted for a remortgage and then completing an approved valuation we were disgusted to be advised we were being classed as having mortgage appears as our current payments are collected at the end of the...
Read moreTerrible company to deal with, after being accepted for a remortgage and then completing an approved valuation we were disgusted to be advised we were being classed as having mortgage appears as our current payments are collected at the end of the month. Having never missed a payment in 17 years they could not explain their decision and we have now went elsewhere. The delay caused by their incompetence has caused me hundreds of pounds. Avoid this company and don’t be attracted by the low rate. The sign up digital process was also a hassle and my wife’s set up was still not complete at the time we cancelled our application. This company has a lot to learn.
I had originally posted a review about 7 days back the review was terrible as the service was terrible however i have since used a proper mortgage company so glad i have i have already got my mortgage in place in less than 7 days dont waste your time...
Read moreI had originally posted a review about 7 days back the review was terrible as the service was terrible however i have since used a proper mortgage company so glad i have i have already got my mortgage in place in less than 7 days dont waste your time with digital its like a police interrogation use a bank dont waste your time i see they like to post a reply but not with my review as they have no excuse USE A PROPER HIGH STREET COMPANY ITS YOUR BIGGEST PURCHASE IN LIFE DONT BE DICTATED TO
at the start of the application it was very good to the point i had approval (not hard with a credit score of 940)then only to find out that yet another person (gemma) has taken the case over and has requested more info again that has already been...
Read moreat the start of the application it was very good to the point i had approval (not hard with a credit score of 940)then only to find out that yet another person (gemma) has taken the case over and has requested more info again that has already been supplied all this i thought ok its a mortgage and thats the way it works however i was asked to produce tenancy agreements for my existing tenants again fine but as we all know data protection does not allow me to share peoples info without permission as confirmed by my local authority i explained this and her response was i doubt that thats not how it works i was so tempted to tell her to look up the data protection act but given her tone i told her to put the application where the sun does not shine and im back in square 1 with 3 weeks lost thank you so much digital mortgages not 1 person will reply to any of my emails and this should be a big big warning to anyone thinking of using this service just dont you will waste time you will mess about the vendor and you will lose your dream house dont take the chance I am the stupid one for not reading the reviews before hand dont make the same mistake
Awful experience. They've had my application for nearly a month and haven't actioned anything. Customer service has been non exsitant.
We applied through Atom Bank for a remortgage to free up some equity in our house. The rate was competitive and the terms of the mortgage appealed to my Wife and I so we instructed our broker to progress. Affordability was fine, documentation was...
Read more We applied through Atom Bank for a remortgage to free up some equity in our house. The rate was competitive and the terms of the mortgage appealed to my Wife and I so we instructed our broker to progress. Affordability was fine, documentation was provided and a decision in principal was referred to the underwriters which I am told is common practice with a new mortgage lender. Digital required much more documentation than I have ever provided to a lender before, some of which was completely unnecessary. We were assigned a legal company for the conveyancing and a valuation visit was also booked. Out of the blue I received notification from the mortgage broker asking if I could explain transactions on my bank statement which showed adhoc payments being transferred to my parents....sums of money I choose to save each month, often coming back in to the account. I gave the explanation as required and thought no more of it as these payments were well within my surplus. After a week with no news I received a call from my broker advising that Digital 'didn't like the look of the payments to my parents' and had declined our application......3 weeks into the process! I am now in a position of having to push through the remortgage with another mainstream lender (whom, may I add, instantly approved us using all the same documentation) with only 3 weeks until my fixed rate ends.
My wife and I have exemplary credit records, have never missed a payment on any debt and passed the affordability check with ease.
Digital offer a very appealing rate but seemingly use odd criteria to determine whether or not to lend. If there was a solid reason for our rejection other than 'we don't like the look of the payments' I could appreciate their stance however I am left baffled and almost out of time......
EDIT following a response from Atom on TrustPilot and a phone call with them......
This was apparently a stress test taking into account the amount I save each month - which is obviously something I can stop immediately. Conclusion - they don't seem capable of assessing affordability correctly. The stress test was attempted with interest rates reaching 5% which I'm sure you'll agree isn't going to happen anytime soon. In addition I was applying for a fixed rate!
My partner & I were looking to purchase our first home and our broker suggested Atom banks digital mortgages. He said they were a new bank that would lend us the amount we needed for the first house of our dreams, he also said that as they were an...
Read more My partner & I were looking to purchase our first home and our broker suggested Atom banks digital mortgages. He said they were a new bank that would lend us the amount we needed for the first house of our dreams, he also said that as they were an 'only digital' bank they would be the quickest option as our seller was looking for a quick sale. We were obviously very excited when they offered us a mortgage in principle and we began to plan for our new home once they accepted our paperwork and put the property forward for valuation. Other lenders check and approve the borrower before sending the property to be valued (i.e they check that they will lend to the person before checking that they will lend on the property) so us & our broker assumed that Atom had approved of us and just needed to check on the property. This is not the case with Atom. The property was valued and came back fine, we were then told to wait 48 hours for our official mortgage offer. Atom has appointed a solicitor to us and we were told to pay £300 for the search fees - again, we assumed that we were going to be accepted as the property has been sent for valuation and all had been fine so far. 4 days later, and after paying £300 for the solicitor searches that atom had appointed to us and a further £350 valuation fee, Atom declined our mortgage.
Our broker advised us that most lenders do not unnceccesarily charge for valuation fees if they do not plan to lend to the borrower, so he requested a refund of the valuation fees. Atom declined this request and refused to refund our valuation fee.
So now, not only are we £650 down, we are totally disheartened because of this awful experience of trying to purchase our first property. We ended up losing the house that we loved because of this. DO NOT USE THIS BANK!
We were a pilot for Atom bank mortgages via our broker. It started off very well, but progressively got worse to the point that 10 days before the completion date , the app would not let me sign the terms and conditions. We were abroad and Atom bank...
Read moreWe were a pilot for Atom bank mortgages via our broker. It started off very well, but progressively got worse to the point that 10 days before the completion date , the app would not let me sign the terms and conditions. We were abroad and Atom bank did not reply to any emails, as not only were they having app problems, but apparently their emails were not working either. It totally ruined our few days away whilst we were going a simple remortgage , as Atom did not liaise with us, the broker, or even their own solicitors. In the end they emailed us 3 days after the initial problems telling us to use yet another code, and then phone them etc... we decided not to go through the remortgage With them , as they never apologised, or kept us informed about rectifying the problems , and we were left to deal with it alone . Do not jeapordise your home , or more importantly peace of mind, by taking out a mortgage with Atom bank !
