TMA offers AToM complex prime
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The Mortgage Alliance has announced an agreement with AToM giving its members access to a range of exclusive products including complex prime deals.
AToM’s complex prime offering will arm members with an alternative opportunity to place business that may otherwise be declined due to lenders ‘credit scoring’ DIP systems.
Phil Whitehouse, head of TMA, says the words ‘complex prime’ appear to have become synonymous with the current mortgage market as it strives to find more opportunities to help those non-standard borrowers possessing a good credit rating who can prove their ability to afford the mortgage beyond any reasonable doubt.
He says: “There is no doubt that there is good quality business out there being declined by some lenders automated underwriting systems.
“This agreement with AToM will enable members to place this good quality business with a lender that takes an individual view on cases that may otherwise be declined.
“Of course such deals will not suit every client but in trying to provide members with products that they may not previously have had access to we believe this link has the potential to add real value so that TMA members can win and retain more clients.”
Dale Jannels, sales and marketing director at AToM, says: “TMA is a well respected mortgage club and we’re delighted to be appointed to their approved packager panel. Our aim is to support TMA members with both specialist mortgage packaging and AToM’s Complex Prime offering. These words are now becoming more frequently used in our industry and AToM’s offerings are assisting many prime customers who are failing lenders credit scores.
“There are still lenders who want to do business with low scoring creditworthy customers, if the deal is clean, affordable and circa 75% LTV. The majority of these lenders use manual underwriting to assess applications, so AToM are simply re-offering similar options to those we provided back in the 90s. The result for the end consumer is the priority for us all and if we can assist, we will. All the staff at AToM are looking forward to working with Phil, his team and the TMA membership. “
