Atom Bank Mortgage Thread

boonkoh

As this is MSE, I'm sure there were loads of people who caught on to the amazing 1.29% 5-year deal offered by Atom Bank two weeks ago!

I was one of them, and currently halfway (ish) through the process. I thought I would start this thread as a watering hole for other people in the process of an Atom Bank mortgage!

My timeline:
13 Apr - application created by Habito (broker)
19 Apr - conveyancer allocated
21 Apr - DIP received
26 Apr - still waiting for document checks to be completed and valuation surveyor to be assigned by Atom

What I find a bit frustrating about the process so far is not being able to speak to someone at Atom directly, and also that over the two weeks they have asked for more documents in drips and drabs via my broker.

What is everyone else's experience so far?

Thrugelmir

boonkoh wrote: »

What I find a bit frustrating about the process so far is not being able to speak to someone at Atom directly, and also that over the two weeks they have asked for more documents in drips and drabs via my broker.

Dealing through the broker is their business model. To offer cheap rates they need to optimise their internal structure to reduce overheads (i.e. staffing levels).

dudhai

My timeline:
16 Apr - application created
16 Apr - conveyancer allocated
16 Apr - DIP received
20 Apr - conveyancing company called to book valuation
25 Apr - valuation. Atom notified of report being submitted by the conveyancer.
25 Apr - broker asked for couple of extra documents
27 Apr - still waiting for the next event

boonkoh

dudhai wrote: »

My timeline:
16 Apr - application created
16 Apr - conveyancer allocated
16 Apr - DIP received
20 Apr - conveyancing company called to book valuation
25 Apr - valuation. Atom notified of report being submitted by the conveyancer.
25 Apr - broker asked for couple of extra documents
27 Apr - still waiting for the next event

Interesting, I haven't gotten my call yet to book in my valuation.

Was it Legal & General by any chance that handled your valuation appointment? I'm thinking of being proactive and calling them to get it booked in...

dudhai

Yes, Legal & General.

kingstreet

I'm just waiting for the first "but I don't have a smart phone" post.

minimike2

Why would you want to contact the lender when a broker is dealing with your application?

boonkoh

I just had a very interesting call with my broker.

They were updated by Atom that the valuation has been completed - but no-one had contacted me to arrange access to the property, and no-one contacted the agent either!

My broker said its not unusual for there to sometimes be just a "desktop valuation" done. FYI the property I'm buying was built just 10 years ago.

Has anyone else who applied for an Atom mortgage had this too? No visit, just a "desktop valuation"?

dudhai

My timeline:
16 Apr - application created
16 Apr - conveyancer allocated
16 Apr - DIP received
20 Apr - conveyancing company called to book valuation
25 Apr - valuation. Atom notified of report being submitted by the conveyancer.
25 Apr - broker asked for couple of extra documents
27 Apr - forms (questionnaire, identification and mortgage deed) received from solicitor
2 May - solicitor received the filled forms
[Edit]
3 May - LMS Track My Case shows Completed for Questionnaire, Deed and Identification
[Edit]
3 May - Text message from Atom notifying about valuation report available in their app

senukas

My timeline:
14 Apr - spoke to broker and sent required documents
15 Apr - application submitted
15 Apr - DIP received
16 Apr - conveyancer and valuation allocated
18 Apr - valuation booked
20 Apr - Atom assessed and approved our paperwork
21 Apr - valuation guy came over
25 Apr - Atom notified us that valuation report is submitted
3 May - Atom notified that valuation report is approved and available to view in Vault
3 May - Mortgage offer made (and naturally accepted :rotfl:)

Still no contact from conveyancer though.

Hello boonkoh :wave:

dudhai

My timeline:
16 Apr - application created
16 Apr - conveyancer allocated
16 Apr - DIP received
20 Apr - conveyancing company called to book valuation
25 Apr - valuation. Atom notified of report being submitted by the conveyancer.
25 Apr - broker asked for couple of extra documents
27 Apr - forms (questionnaire, identification and mortgage deed) received from solicitor
2 May - solicitor received the filled forms
3 May - LMS Track My Case shows Completed for Questionnaire, Deed and Identification
3 May - Text message from Atom notifying about valuation report available in their app
5 May - Mortgage offer made