Recent experiences with Atom/Digital Mortgages?

hanfrangipane

Hi,

We are looking to get a mortgage on a house purchase and L&C are recommending Atom as the best option due to the low rates (2.19% on 5Y fix), however if they are too poor to deal with I'd rather take a higher rate than risk losing the house we want.

I've searched the forum and spotted a few frustrations from last summer when they were pretty new but does anyone have any more recent experience? Do they seem to have ironed out a few of their issues?

My main concerns are:

- They appear from reviews to take payment and do valuations/legals ahead of doing some of the credit searches/affordability stuff so if you fail the tests then you lose the valuation fees etc. I know this is always a risk but I was under the impression other, more mainstream banks, tended to do this the other way round. This was my experience with Skipton on my last mortgage.

- Solicitors - I'm trying to find out who is on their panel so that I can use my own solicitors who managed my sale but can't seem to get an answer yet! There's been a fair few complaints about their appointed solicitors and the fact that they demand switching to their legal team at the last minute.

Thanks

butterflybook

Have you got a broker on hand who has placed you with them?

hanfrangipane

butterflybook wrote: »

Have you got a broker on hand who has placed you with them?

Yes, they were suggested by a broker at L&C. She doesn't seem to have any concerns but I still like to do my own research and be prepared too. These are questions I'll also be asking her but just wanted to ask of any other experiences too as I've read a few bad reviews.

My solicitor has confirmed they are on their panel so that's that obstacle dealt with at least!

butterflybook

In my experience they have been a decent lender to deal with, no negatives spring to mind with them, as long as your broker has done the due diligence you shouldn't have a problem

hanfrangipane

butterflybook wrote: »

In my experience they have been a decent lender to deal with, no negatives spring to mind with them, as long as your broker has done the due diligence you shouldn't have a problem

Thank you, I guess that is my concern, whether they've done enough! Will ask them to double check everything before I agree to an application. They've taken all our details but haven't looked at a credit report yet so I'm not sure what else I'd expect them to do!

butterflybook

they are generally a mainstream vanilla lender - I would say they are conservative in their underwriting and so if there is anything unusual about your case may be worth double checking but im sure your broker will have it covered.

hanfrangipane

butterflybook wrote: »

they are generally a mainstream vanilla lender - I would say they are conservative in their underwriting and so if there is anything unusual about your case may be worth double checking but im sure your broker will have it covered.

Nothing particularly unusual - got a Noddle dispute raised because they're not picking up my latest electoral roll and a few outstanding credit cards that will be paid off before completion but other than that it's a straight forward case.

Amst

hanfrangipane wrote: »

My main concerns are:

- They appear from reviews to take payment and do valuations/legals ahead of doing some of the credit searches/affordability stuff so if you fail the tests then you lose the valuation fees etc. I know this is always a risk but I was under the impression other, more mainstream banks, tended to do this the other way round. This was my experience with Skipton on my last mortgage.

Incorrect, the fees are paid at DIP stage as per any other mainstream lender. If you paid a valuation fee and the valuation was cancelled before going ahead the fee is refundable etc.

- Solicitors - I'm trying to find out who is on their panel so that I can use my own solicitors who managed my sale but can't seem to get an answer yet! There's been a fair few complaints about their appointed solicitors and the fact that they demand switching to their legal team at the last minute.

The complaints may have related to their (old) policy of a closed panel of solicitors for remortgages and purchases. They now offer general panel for purchases and separate representation for both remo and purchase.

Thanks

See replies above.