Atom Digital Remortgage

WildWinter

Just on the off chance anyone has been in the same position or can shed light on it. 

Currently on a 5yr fix mortgage with Atom Digital, cannot complain, been great, easy app to use and can overpay by 20% each year. 

Problem is now that I am due to remortgage next year and Atom do not deal with existing customers direct I have to go via a broker again. 

Now you're wondering why I want to stay with Atom instead of looking around. Well my situation changed, I lost my full time job during covid. Went self employed and my partner is part time. When remortgage comes around I will not have 2-3 years of self assessment tax to provide which I know is a problem for many lenders. Part time working will not be enough to satisfy the criteria alone. Also my house was a self build and has an Architects Certificate rather than HNBC so this also puts many lenders off. 

If I did go back to a broker will Atom want all payslips and related information like the first time around application or will they look more favorably on us as existing customers? 

Can afford mortgage repayment and overpayment comfortably just don't have the SA paperwork to back me up or show the kind of guarantee lenders look for with employment. 

I'm looking at the easier, less stressful option and the SVT (currently 3.5%) isn't filling me with joy

MWT

If you are not changing the term or the amount borrowed it should not be a full 'remortgage' it should just be a product switch.

Most other lenders do that via an online portal in a few seconds.

Talk to the broker you used for the original mortgage, they should be able to tell you what the process for Atom will be...

K_S

WildWinter said:

If I did go back to a broker will Atom want all payslips and related information like the first time around application or will they look more favorably on us as existing customers?

@wildwinter Generally speaking, no. For a product transfer (PT), all a broker usually needs from a new customer is KYC documents. The lender (in most cases) needs no documentation at all, in some cases requires a signed letter confirming authority to proceed with a PT. I'm struggling to remember the last time I had to upload any documentation for doing a PT for a client.

If you go back to the original broker you used, he/she might not even need KYC documents depending on how long ago it was and their internal policies. And most brokers don't charge any fee for PTs.

WildWinter

Ah I see never realised it would/could be classed differently just presumed it was a remortgage. I will ask the question to the broker about product transfer and the criteria Atom use ☺