Near Prime mortgages
Many lenders demand a perfect credit score, which can make life difficult when you need a mortgage
What is a Near Prime mortgage?
Many lenders demand a perfect credit score, which can make life difficult when you need a mortgage.
A Near Prime mortgage is designed to help you get a mortgage when your credit is less-than-perfect. Many lenders would automatically categorise this as bad credit, which could stop you from being approved.
Our Near Prime mortgages may be able to meet your needs if you’ve struggled to secure a mortgage with a traditional lender. We might be able to support you even if you’ve experienced financial difficulties — CCJs, missed payments, defaults, for example — but are returning to a better financial position.
We offer Near Prime products alongside our wider mortgage range to ensure we’re helping as many people as possible to move, buy or remortgage.
What Near Prime mortgages does Atom offer
These are current Near Prime deals but they are subject to change. If you like what you see, contact a broker
Term
2 Year Fixed
Early repayment charge until Fri Mar 31 2028
Initial Rate
5.29%
SVR Rate
6.99%
APRC
6.8%
Product fee
£0
Term
3 Year Fixed
Early repayment charge until Sat Mar 31 2029
Initial Rate
5.29%
SVR Rate
6.99%
APRC
6.8%
Product fee
£0
Term
5 Year Fixed
Early repayment charge until Mon Mar 31 2031
Initial Rate
5.19%
SVR Rate
6.99%
APRC
6.5%
Product fee
£0
Representative Example:
2 Year Fixed — 85% LTV with no product fee, 5.54% rate
A capital and interest repayment mortgage of £152,710.50, payable over 30 years and 0 months, initially on a fixed rate of 5.54% for 2 years, and then on our current standard variable rate of 6.99% for the remaining 28 years and 0 months, would require 24 monthly payments of £870.91 and 336 monthly payments of £1,003.59.
The total amount payable would be 358,108.08, made up of the loan amount plus interest of £204,294.35, with no product fee and no valuation fee.
The overall cost for comparison is 6.9% APRC Representative.*
*The above representative example is for illustration purposes only and is not an offer. The figures are representative of the typical costs and repayments for this type of mortgage and customer type. As a result your actual costs and repayments will vary depending on your personal circumstances/mortgage.
YOU COULD LOSE YOUR HOME IF YOU DON’T KEEP UP YOUR MORTGAGE REPAYMENTS
How to apply for a Near Prime mortgage
New to Atom bank?
Think an Atom Near Prime mortgage might be right for you? You’ll need to speak to an independent broker. We only offer our mortgages through brokers to ensure you get advice suited to you. Use the find a broker tool below to begin.
Currently an Atom bank customer?
If you’re currently an Atom customer, and you think a Near Prime mortgage might be a good fit for you, we’re happy to hear it!
You can either speak to the broker you worked with previously or use our find a broker tool below to find someone and get advice.
You might be able to switch your product with us directly (subject to eligibility), if you’re happy to proceed without advice. We will get in touch when this option becomes available to you.
Find a broker
You can use the search tool below to find a broker who works with Atom.
Mortgages with a CCJ
Getting a mortgage with a CCJ (county court judgement) on your credit record is possible with our Near Prime mortgages, as long as it meets our lending criteria.
We will accept a maximum of four CCJs in the last three years as long as they were issued over 12 months ago and are either satisfied in full or have a total combined unsatisfied value of £1,000 or less.
Mortgages with a default
Near Prime mortgages are still available even if you have defaults. We will accept a maximum of four defaults, as long as they were issued over 12 months ago, and three or more haven’t occurred in the last 24 months. These defaults must also either be satisfied in full or have a total combined unsatisfied value of £2,500 or less.
Any defaults from over 24 months ago are not counted as part of the maximum of four, but they cannot have a current value of more than £2,500 when combined with any other outstanding defaults.
Mortgages with an IVA
In many instances we can accept an IVA on your credit record as long as it meets our lending criteria.
Any IVA or bankruptcy must have been discharged over six years ago if you wish to apply for a Near Prime mortgage with us. Get in touch with one of our brokers if you'd like to understand your options.
Near Prime mortgage FAQs
Got a question about our Near Prime mortgages? Have a read of our FAQs below or get in touch with us.
