This offers advisers an alternative route to placing business which may otherwise be declined due to lenders’ ‘credit scoring’ DIP systems. AToM’s Complex Prime is able to place low credit scoring prime customers, or those who have a complex financial scenario.
Commenting, Dale Jannels, sales and marketing director at AToM, said, “Complex Prime is becoming a huge part of the core functionality of AToM. We have six lenders on our Complex Prime panel and will be adding another two in the next few weeks. It really is an exciting proposition and therefore very beneficial for our intermediaries clients. Just because the high street says ‘no’ should not mean your client cannot get a mortgage!
“The latest lender has granted us a large tranche of exclusive funds on a 3.35% 2 year fixed product, up to 75% LTV, for both purchase and remortgages with no credit scoring. This really is a TRUE exclusive product. As with all AToM Complex Prime lenders, prospective customers must be able to prove affordability and must have an absolutely blemish free credit history. We are delighted to have lenders seeking to lend such competitive products through AToM and are looking forward to distributing this product to AR members of Mortgage Intelligence Holdings.”
Product details include: Fixed rate of 3.35% to 08/2012 up to 75% LTV with mortgage loans from £100k to £750k, purchase or remortgage. The product carries a £1,399 arrangement fee and £100 funds booking fee. No credit scoring, no extended redemption penalties.
Sally Laker, managing director, Mortgage Intelligence Holdings, commented, “This is a fantastic exclusive product and a real coup for us to be the only distribution channels selected to have access to this deal. AToM’s Complex Prime products have already proved extremely popular with our members and I have no doubt that this latest rate will be a welcome addition to an already competitive and flexible range.”
