August 30th, 2023

Atom bank partners with specialist originator Assetz Capital

As part of a new collaboration, Assetz Capital will become a key introducer of commercial mortgage loan applications to Atom Bank.

The expansion allows Atom bank broadened access to new areas of the UK market through a key distribution partner with an origination team covering the whole nation. The collaboration follows Assetz’s strong direct lending growth, having recently surpassed £1.7bn of property secured business lending completions since its launch.

The partnership follows the news that Atom bank has generated over £1 billion in commercial mortgage quotes since coming back on sale in April. The digital bank has recently launched broker-instructed valuations and made a swathe of key improvements to its commercial mortgage underwriting process, halving on average the time it takes for an underwriter to assess a broker’s case.

David Castling, Head of Intermediary Distribution at Atom bank, said: “We want to help as many businesses as possible, with our sights set on growth as we offer brokers and customers alike a better lending experience. A partnership with a specialist originator such as Assetz complements our existing broker network and provides us with access to new professional and direct markets for commercial mortgages.”

Andrew Charnley, Managing Director of Assetz Capital: “This strategic partnership with Atom will help Assetz to extend our reach in the owner occupied and professional property investor commercial mortgage market space nationwide. Atom bank is a further strategic partner for us, sharing Assetz customer values and, through this new relationship, expanding our funding support for commercial mortgages to all trading businesses, property investors and importantly also the large care sector. Both Atom and Assetz have played significant roles supporting SMEs during Covid-19, as accredited standalone lenders under the Coronavirus Business Interruption Loan Scheme (CBILS), and it is upon this support of the UK commercial mortgage market that we wish to build.

“We are excited that Atom bank has strengthened its commitment to supporting small businesses through us. Alongside a wide range of institutions, it’s great to see our model being leveraged as a key solution towards increasing the flow of funding to the economy at this time of need.”

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As featured in: Bridging Loan Directory and Commercial Reporter

About Assetz Capital

Assetz Capital is one of the country’s leading business lenders, providing property-secured finance since 2013.

Using cutting-edge financial technology, and its own property expertise, Assetz Capital helps UK SMEs, property developers and housebuilders access real world lending. This includes secured SME term loans, buy-to-let for landlords, commercial mortgages, bridging finance, development finance and residential refurbishment.

Assetz Capital brings institutional investors together with SME trading businesses and housebuilders to fund new housing developments and commercial property across the whole of the UK. The business has provided over £1.7bn of SME business loans in the last 10 years and as part of that is a leading provider of funding to independent SME housebuilders. Assetz Capital has funded over 6,000 new homes built by those developers, including the entire 1% growth in the delivery of new housing starts in England in 2018, and 1 in 12 of all SME built homes in 2018, 2019 and 2021. 

Assetz Capital has been recognised as one of the UK’s top 100 fastest-growing financial technology companies in the Sunday Times Tech Track 100 and Financial Times’s FT1000 Europe’s Fastest growing Companies. Its hugely experienced team prides itself on finding funding that fits for the UK’s SMEs.

About Atom bank

Atom bank is the UK’s first app-based bank, on a mission to make the experience of borrowing and saving faster, easier and better value than anyone else.

The bank launched operations in April 2016, and offers award-winning mortgages and savings through its app, alongside secured business lending for small and medium-sized enterprises.

Based in the North East of England with a team of over 500 people, Atom is here to ​​change banking for the good, for the better, and for everyone. This means focusing on customers’ needs, delivering better value than the incumbents, providing an exceptional app-based experience and offering award-winning customer support via phone, chat, email and social channels. The bank has some of the best customer service credentials in the UK, having achieved 5-star ratings on both the iOS and Android App Stores, and on Trustpilot, whilst consistently delivering Net Promoter Scores (NPS) in the high 80s.

Atom is an engaged and active member of the North East Community. In 2022 Atom signed a five-year Memorandum of Understanding with Durham University to progress key research and diversity initiatives. The region has one of the highest levels of youth unemployment in the UK and Atom is passionate about addressing the critical digital skills gap and helping develop young people and other groups that are under-represented within the industry.

As of November 2021, all employees enjoy a four-day working week, after Atom became the largest company – and only bank – in Britain to introduce the policy, with no reduction in salary.

The Atom executive team are highly experienced, having built and run some of the most well-respected banks in the UK. CEO Mark Mullen has 30 years’ experience in the sector and was previously CEO at the multi- award-winning telephone and internet bank first direct. The team is supported by a strong non-exec board, chaired by Bridget Rosewell CBE.