Atom Bank Mortgage Thread

13

Comments

  • Creashor
    Creashor Posts: 15 Forumite
    First Post First Anniversary PPI Party Pooper
    I spoke to Atom, who passed me to my broker.

    The reason for the delay was a very significant under valuation - yikes.

    The valuer stated that there wasn't enough evidence in previous sales to support our valuation, so he dropped it by 100k. Broker is working to try and provide evidence. It seems ridiculous to me, but there's nothing I can do by wait.

    :(
  • Money_Muppet
    Money_Muppet Posts: 120 Forumite
    First Anniversary Debt-free and Proud!
    Money_Muppet wrote: »
    Our valuation was on the 17th. Report appeared in Vault on the 25th, but not heard anything else.

    Offer received today. The end may be in sight!
  • Money_Muppet
    Money_Muppet Posts: 120 Forumite
    First Anniversary Debt-free and Proud!
    Money_Muppet wrote: »
    Offer received today. The end may be in sight!

    Not heard a peep since. :mad:
  • couplands
    couplands Posts: 6 Forumite
    We have been progressing a mortgage with Atom, mortgage offered received and all seemed well. We are planning to complete in two weeks. Howwever, at the last minute Atom have stated we need to use one of their preferred solicitors and not the one we have been using since the start of this process.

    This is the first that our mortgage broker, solicitor and us have heard of this requirement. Nowhere in the offer do they say it is conditional on using their solicitors.

    Not sure where we stand, has anyone else had such behaviour..?
  • ca7csu
    ca7csu Posts: 30 Forumite
    Mortgage completed 30th June after application Submitted 23rd April.
    To be fair London and Country did say it would take a while as they have a backlog of applications after their rates were so low for 5 year deals.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    couplands wrote: »
    We have been progressing a mortgage with Atom, mortgage offered received and all seemed well. We are planning to complete in two weeks. Howwever, at the last minute Atom have stated we need to use one of their preferred solicitors and not the one we have been using since the start of this process.

    This is the first that our mortgage broker, solicitor and us have heard of this requirement. Nowhere in the offer do they say it is conditional on using their solicitors.

    Not sure where we stand, has anyone else had such behaviour..?

    Standard procedure for the majority that solicitor is selected from those listed on the lenders panel. As was the case with Chelsea Building Society some years ago. Even solicitors can act fraudulently and in collusion with the other parties involved. As a new lender probably didn't have their act together back in April.
  • Money_Muppet
    Money_Muppet Posts: 120 Forumite
    First Anniversary Debt-free and Proud!
    Money_Muppet wrote: »
    Not heard a peep since. :mad:

    Finally completed today. It should be easier and quicker than that surely. Can't complain about the rate though!
  • Amst
    Amst Posts: 141 Forumite
    couplands wrote: »
    We have been progressing a mortgage with Atom, mortgage offered received and all seemed well. We are planning to complete in two weeks. Howwever, at the last minute Atom have stated we need to use one of their preferred solicitors and not the one we have been using since the start of this process.

    This is the first that our mortgage broker, solicitor and us have heard of this requirement. Nowhere in the offer do they say it is conditional on using their solicitors.

    Not sure where we stand, has anyone else had such behaviour..?

    Your broker has lied to you, Atom have a closed solicitor panel which the brokers are informed about. Ask them to explain themself.
  • strawberries1
    strawberries1 Posts: 873 Forumite
    Name Dropper First Post First Anniversary
    I was accepted for the 1.29% rate but a couple of months ago the transaction became a chain and although the broker said ATOM have a 2week grace period and may extend based on facts of the case they've decided it's not possible and offered 1.74%. Is it possible to pas this increase on the my seller's seller who'd said he was moving into rented accomodation but as we neared exchange he got into a chain?

    My solicitors said ATOm will consider extension when the certificate of title is submitted but the broker says the extension means a new rate not the 1.29%. Disappointed. I'm bottom of the chain FTB.
  • RuralDreams
    RuralDreams Posts: 29 Forumite
    Hi, reviving old thread.
    I am looking at Digital/Atom for fixed rate mortgage but would like some info from you guys who have already gone with them.

    1) Is their app easy to navigate? For those of us who are not too tech savy.

    2) When setting up overpayment do you have to op each month by same amount or can you vary your amounts? Is it as simple as here is Atoms sort code add what you want as op when you want?

    Thanks in advance
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