AToM launches near prime exclusive
The deal will see AToM able to offer loans from £50,000 with a minimum term of just one year, loan-to-values up to 70%, no ERCs and most CCJs and defaults ignored if they are over 12 months old.
Dale Jannels, managing director at AToM, said: “Demand is increasing in the near prime arena and lenders are reacting to this.
“Hanley has come to the specialist market with a superb offering. It has seen some gaps in the remortgage market and catered for these.”
Product highlights include no ERCs, manual assessment, no more than 5 CCJs in total (none in past 12 months), no defaults in last 12 months (anything over 12 months ignored), no credit scoring. Available in England & Wales.
David Lownds, head of operations at Hanley Economic Building Society, added: “This is an exciting opportunity for the society to offer a specialist product in this market.
“A competitive product is just part of what we have to offer, our individual approach to common sense underwriting has seen us win many awards over the years.”