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Atom bank issues same day mortgage offer on one in five cases

●      Over the last four months, more than one in five applications have been approved on the same day, with over a third gaining approval the same or next day

●      Well over half of all cases, purchase, and remortgage, have been supported by either an AVM or AIV during that period

●   Broker feedback points to applications now being accepted within seconds of the application being submitted


Atom bank, the UKs first digital only bank, is now in a position where more than one in five (21%) mortgage applications were approved on the same day over the last four months1, with over a third (34%) gaining approval the same or next day. 

Atom, which is the UK’s second most trusted bank with a Trustpilot score of 4.8, has achieved such speed to offer through greater use of automation, with more than half (58%) of all cases, purchase and remortgage, being supported by either an Automated Valuation Model (AVM) or Automated Income Verification (AIV).

The increased use of AIV removes the need for brokers to submit payslips in many cases, with Atom bank making full use of this technology. This, combined with the increased use of AVMs to further reduce the time it takes to return an offer, is a key part of Atom bank’s vision to move away from the traditional way of assessing cases and speed up a process that frustrates brokers and their clients alike.


In addition, Atom has also been running Near Prime customers through an AVM , demonstrating that traditionally more complex customers can benefit from increased automation, thus underlining Atom bank’s commitment to speeding up the process for a wide range of borrowers with varying needs.

Atom’s increased use of automation means that in many same day cases, offers come back in a matter of minutes, with broker feedback pointing to some offers being accepted in seconds while they are still on the phone to their client.

Richard Harrison, Head of Mortgages at Atom bank said, “We can offer brokers and their clients lightning-fast application to offer, supported by greater automation. A number of brokers have actually said to us that they’ve received the offer back in seconds whilst still on the phone to their client. Our increased use of AVM and AIV generally decreases the workload for brokers too, making the whole journey more seamless.


“What’s more, it’s not just low LTV remortgage customers with a clear credit record benefitting from this service. We’re using this technology for purchase customers across all LTV’s , changing perceptions on what is possible and helping more people to move.

“While we may be industry leading now when it comes to speed, this certainly isn’t the limit of our ambition. The mortgage process is ripe for disruption, and we’ll keep using automation to improve the journey in order to offer better value to brokers and their customers.”

Ryan Craig from McDaid Mortgages said: “To get an offer within 24 hours is very rare these days. There is usually lots of back and forth with underwriters, but the whole process with Atom was unbelievably simple, and it was refreshing to get an offer so quickly. 


“The traditional way of doing things gives you a lot of paperwork and hassle, which makes your life more difficult as a broker. The Atom portal speeds this process up and to get updates during the application process is amazing.

“A quick offer is fantastic as a broker and means you don’t have to worry about sending more information to the lender or it being declined. It’s nice to know your client isn’t going to have to wait weeks for an answer, particularly for those who have left things to the last minute or may be under some pressure from estate agents to progress a sale.

Varun Deo, from Charles Cameron & Associates: “I’ve been a mortgage adviser for 11 years and I can count the number of times I have seen an offer come back within 30 seconds on one hand. Generally, I find that two to two and a half weeks is the standard time to receive an offer.


“When an application needs an amendment, some lenders decline an application without explanation too, which means I have to call them up and wait on hold for a long time to find out why. With Atom, everything is visible in the Portal, and knowing I can speak to someone in a few minutes if needed is great.”

For more information on Atom’s residential mortgages, visit

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