"We are pleased to be able to reduce rates across our range, helping both Prime and those Near Prime customers with a less than perfect credit history who may struggle to secure a deal elsewhere"
- Richard Harrison - Atom
Atom, the UK's first app-based bank, has announced that it has cut rates across its mortgage products by up to 0.20%, following the recent drop in swap rates.
According to the lender, the rate reductions will affect selected Prime purchase, remortgage, retention and further advance products, with 2- and 3-year rates being cut by up to 0.20% and 5-year rates being cut by up to 0.15%.
In addition to this, Atom has also cut rates on its 2- and 5-year Near Prime purchase and remortgage products by up to 0.10%. This range is perfect for those customers who sit just below the threshold lenders use to identify someone who has a strong credit score.
Richard Harrison, Head of Mortgages at Atom bank commented: “Brokers and their clients haven’t had much to cheer about so far this year, but in recent weeks the outlook has started to look more certain and swap rates have begun to fall.
“At Atom, we do everything we can to ensure our mortgages are built to meet customer needs and offer fair value. With this in mind, we are pleased to be able to reduce rates across our range, helping both Prime and those Near Prime customers with a less than perfect credit history who may struggle to secure a deal elsewhere.”