Trinity Financial has secured access to Digital Mortgages the lender funded by Atom Bank.
Digital Mortgages is the UK’s first app-based bank providing residential and commercial mortgages.
The bank has some impressive fixed rates and it will lend 4.5 times single and joint incomes. The maximum loan available to first-time buyers is £300,000 and mortgages can run up to a borrower's 80th birthday.
Self-employed applicants will need two years’ accounts and limited company directors can use a share of net profits plus salary.
Contractor mortgages are also available using the income calculation of the lower of the Day Rate x 5 x 46 weeks or the actual number of weeks worked, although this is subject to additional criteria.
The maximum loan-to-value is 95% and new-build mortgages are available up to 85% loan-to-value for houses. This reduced to 80% loan-to-value for flats.
The bank provides part interest-only and part capital repayment mortgages, on the condition clients earn £100,000 and the property is worth £500,000.
Aaron Strutt, product director at Trinity Financial, says: “To qualify for a mortgage with Digital Mortgages you will need to download its app on your smartphone to accept, complete and service the mortgage. You will also need to set the FaceID and VoiceID features to scan your face and record your voice.
“The app will also show real-time mortgage updates and enable clients to check their outstanding balance and mortgage term. The bank expects to launch into the buy-to-let market over the coming months.”
For help to secure a mortgage through Digital Mortgages call Trinity 020 7016 0790.