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5 Year Fixed Rate Mortgage 1.29% @ Atom Bank
5 Year Fixed Rate Mortgage 1.29% @ Atom Bank

5 Year Fixed Rate Mortgage 1.29% @ Atom Bank

Atom Bank is to offer a five-year fixed-rate mortgages this week, with the highlight being a record-breaking rate of just 1.29% if you can borrow 60% of your home's value.

The 1.29% deal, which will fix a borrower's mortgage payments until 2022 and comes with a £900 fee, is the lowest ever seen for a five-year fixed mortgage

Atom Bank's five-year fixes launched on Wednesday 11 April, in the latest escalation of the ongoing mortgage price war. They'll only be available from certain brokers. A link has been set up to request a list of the brokers by email, because it isn't yet downloadable from the site.

All credit to MSE and also featured on MSE

They'll only be available from certain brokers. A link has been set up to request a list of the brokers by email, because it isn't yet downloadable from the site.

atombank.co.uk/con…act

Then click send me the broker list

Top comments

Be aware that because this is the first time Atom Bank are doing mortgages, there is a higher than usual risk that their processes might not be able to handle the volume of demand, or that there might be kinks/issues during the process.

If you need to get a mortgage quickly or want less stress in your mortgage process, it might be worthwhile weighing up this risk vs using an established lender.

Broker list

https://www.atombank.co.uk/~/media/atom/downloads/atom_mortgage_broker_list.pdf
212 Comments

There is a broker on Quidco, who doesn't charge fees and has access to these deals. I found out yesterday and shared it but it's disappeared.

bobcoyle77

There is a broker on Quidco, who doesn't charge fees and has access to … There is a broker on Quidco, who doesn't charge fees and has access to these deals. I found out yesterday and shared it but it's disappeared.



Is it Mortgage Simplicity?
Edited by: "dush_yant" 12th Apr

Apologies if this is a silly Question:
How do I find out which brokers to contact?


Looks a great deal

What a fantastic deal, I just went with a 1.85% fix for 5 years. I could have got a slightly lower rate but nothing like this.

It's the perfect time to release some equity and make some home improvements!

It's a great rate. I'm also impressed that it doesn't come with a monumental fee, too. I'd be very interested in this if it were available when I came to move home/remortgage.

Original Poster

kolossalk

Apologies if this is a silly Question:How do I find out which brokers to … Apologies if this is a silly Question:How do I find out which brokers to contact?


They'll only be available from certain brokers. A link has been set up to request a list of the brokers by email, because it isn't yet downloadable from the site.

http://www.atombank.co.uk/contact

Then click send me the broker list

cliosport65

They'll only be available from certain brokers. A link has been set up … They'll only be available from certain brokers. A link has been set up to request a list of the brokers by email, because it isn't yet downloadable from the site. http://www.atombank.co.uk/contactThen click send me the broker list


Thanks!!

dush_yant

Is it Mortgage Simplicity?



​correct, got email from them last night about it.

Be aware that because this is the first time Atom Bank are doing mortgages, there is a higher than usual risk that their processes might not be able to handle the volume of demand, or that there might be kinks/issues during the process.

If you need to get a mortgage quickly or want less stress in your mortgage process, it might be worthwhile weighing up this risk vs using an established lender.

or if you have three months to wait before your current deal ends then no drama. if you need to exchange in 2 weeks that's a different story however.

what it with fee included then % over 5 years

kolossalk

Apologies if this is a silly Question:How do I find out which brokers to … Apologies if this is a silly Question:How do I find out which brokers to contact?


yes same here can someone advise

Original Poster

scoobytawazara

yes same here can someone advise


They'll only be available from certain brokers. A link has been set up to request a list of the brokers by email, because it isn't yet downloadable from the site.

http://www.atombank.co.uk/contact

Then click send me the broker list

dush_yant

Is it Mortgage Simplicity?



​i am having doubts about this company no reviews and you are literally giving away your whole financial info.

Does this apply in Northern Ireland?

bobcoyle77

There is a broker on Quidco, who doesn't charge fees and has access to … There is a broker on Quidco, who doesn't charge fees and has access to these deals. I found out yesterday and shared it but it's disappeared.



Yes I saw the deal yesterday eve and as I was looking it up it was pulled. I think they pulled your history too...

Interesting to see Atom Bank are also offering a 5 year fixed rate savings account at 2.13%. Might be a consideration for some to take out a mortgage and put the money straight into the savings account!

Broker list

https://www.atombank.co.uk/~/media/atom/downloads/atom_mortgage_broker_list.pdf

Obviously I've got no experience of Atom bank as a mortgage provider.... but I've used them for savings for quite a while now, and I have to say they are top notch in my opinion and the customer service is excellent. I'm not in the market for a mortgage at the moment but if I were I'd definitely be giving these guys a try.

Is there an early repayment fees?

If I had 10 years outstanding on a mortgage and wanted to convert to a 5 years fixed with the intention of clearing the mortgage in 5 years, would this be suitable?

Here is the MSE article:
http://www.moneysavingexpert.com/news/mortgages/2017/04/atom-bank-unveils-suite-of-record-breaking-mortgage-products---but-youll-have-to-be-quick

There are also 1.49% deals for 80% LTV and 1.99% for 90% LTV, so most people can benefit from a low rate - but there is still a £900 setup fee. If you look at the comments, London & Country (L&C) say they offer free mortgage advice.

vraxxos

If I had 10 years outstanding on a mortgage and wanted to convert to a 5 … If I had 10 years outstanding on a mortgage and wanted to convert to a 5 years fixed with the intention of clearing the mortgage in 5 years, would this be suitable?


Yes, as long as you don't want to clear in less than those 5 years. In that case, this would give you fixed payments for the remaining mortgage over a 5 year period (plus cost of the setup fee).

vraxxos

If I had 10 years outstanding on a mortgage and wanted to convert to a 5 … If I had 10 years outstanding on a mortgage and wanted to convert to a 5 years fixed with the intention of clearing the mortgage in 5 years, would this be suitable?




Of course... providing you pass the earnings criteria (cant borrow more than 3-4 times your annual salary?) and you can escape your current mortgage

Just found out from a broker I enquired with that Atom Bank insists that you use their panel of conyevancers rather than being able to appoint your own.

Is this usual? I know HSBC doesn't insist that you use their conveyancers.....

as a headline it looks a great deal, £900 fee upfront might not work for everyone, especially with no fee rates as low as 1.94%

Apologies if this has been answered before...however does anyone know how long they can hold the rate for you? My fixed rate ends in 5 months...I know that some companies hold for 3 months...others 6.

Sell.Me

Apologies if this has been answered before...however does anyone know how … Apologies if this has been answered before...however does anyone know how long they can hold the rate for you? My fixed rate ends in 5 months...I know that some companies hold for 3 months...others 6.



First direct is the only one which offers 6months mortgage promise that I have found

Hoping for some mortgage expertise.

We have 2 mortgages with YBS, we sold our previous house and kept this mortgage going and then they created a second mortgage to cover the extra costs of the new house.

Here is the issue. 1 mortgage comes up for renewal in August this year and the other mortgage isn't due until January 18. We complained to YBS that this was not made clear that we wouldn't be in a position to remortgage with anyone else unless we were outside of the fixed term mortgages.

We had thought that we would pay the standard rate from August - January and then remortgage with someone else. We also wanted to look at the possibility of taking some equity and doing an extension?

Anyone have an advice on how best to tackle this?

boonkoh

Just found out from a broker I enquired with that Atom Bank insists that … Just found out from a broker I enquired with that Atom Bank insists that you use their panel of conyevancers rather than being able to appoint your own.Is this usual? I know HSBC doesn't insist that you use their conveyancers.....


YBS made us use their panel

scoobytawazara

what it with fee included then % over 5 years



Err, about 11, sir.

bobcoyle77

There is a broker on Quidco, who doesn't charge fees and has access to … There is a broker on Quidco, who doesn't charge fees and has access to these deals. I found out yesterday and shared it but it's disappeared.


Remember the name by any chance?

whatyadoinsucka

as a headline it looks a great deal, £900 fee upfront might not work for … as a headline it looks a great deal, £900 fee upfront might not work for everyone, especially with no fee rates as low as 1.94%


Is there an online calculator for that sort of thing? I'm at 1.99%, but with only £98k (over 15 years) I'm not sure it works out any better after the fees. Plus I've rather enjoyed the "overpay whatever you like" aspect of a tracker.

How do i search for the mortgage download the app ??

do the broker charge a brokage fee?
Is there are booking and arrangement fee? £900 is the booking fee I think.

humadoon

​i am having doubts about this company no reviews and you are literally g … ​i am having doubts about this company no reviews and you are literally giving away your whole financial info.



​fca register, I'd check that for a start. quidco has over 40 reviews. however if you have to use broker and they are brokers and have access to these deals then it's ones perogative if you use them or not. could use london and country instead minus cashback.

Where would you expect to find reviews? Quidco?

Maybe the government could borrow some money at these prices. oO

m1112

First direct is the only one which offers 6months mortgage promise that I … First direct is the only one which offers 6months mortgage promise that I have found


HSBC and Nationwide also hold for 6 months providing they offer a MIP (Mortgage in Prinicple). The former is a very strict lender, so don't bother unless you credit score is top notch.
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