Yesterday marked another first for us here at Digital Mortgages by Atom bank. It’s the first time we’ve put three year fixed rate products on sale.
Why? Well, we do know three year products don't currently make up a huge part of the market, but we also know appetite for fixed rate mortgage products is growing.
UK Finance reported that between Oct16-Oct17, sales of fixed rate mortgages rose by 6% to 94% of all new mortgage lending. Source UK Finance, 2018
Based on this increased demand, we wanted to offer something new for customers that give them even more options when looking for the security of a fixed rate mortgage.
It’s a test and learn piece. Our 5 year 90% LTV products are some of our most popular, so we think a 3 year 90% LTV will prove interesting for customers that aren’t ready to make a five year commitment.
Let your BDM know what you think of our new 3 year products. It's your feedback that counts!