"Our frequent rate reductions this year demonstrate how committed we are to providing brokers and their clients with outstanding value"
- Richard Harrison - Atom bank
Atom bank has reduced rates across its residential mortgage range by up to 0.10%. The changes, which take effect immediately, apply to both Prime and selected Near Prime products.
This marks the second reduction in a matter of weeks, following cuts of up to 0.15% introduced in August. Prime rates now begin at 4.84%, while Near Prime rates start from 5.04%.
Near Prime – purchase and remortgage:
Two-, three- and five-year products with a £1,500 fee reduced by 0.10%
Two-year £900 fee and fee-free products reduced by 0.10%
Prime – purchase, remortgage, further advance and retention:
All two-, three- and five-year products reduced by 0.10%
Atom bank has made multiple reductions to its residential mortgage range this year. The lender said the changes are intended to ensure brokers and borrowers have access to competitive pricing and a broad product mix.
Alongside the rate cuts, the bank has expanded its product suite. A new tier of Near Prime mortgages with a £1,500 fee was recently introduced and has already accounted for a significant share of Near Prime activity. Atom has also raised the maximum LTV on Near Prime products to 90%, aiming to serve more borrowers with less-than-perfect credit.
“I’m delighted that we have been able to introduce another round of cuts,” said Richard Harrison, head of mortgages at Atom bank. “Our frequent rate reductions this year demonstrate how committed we are to providing brokers and their clients with outstanding value. Crucially, this focus extends to borrowers with imperfect credit scores, with selected Near Prime products also being reduced.
“Just as important as headline rates is the breadth of options open to borrowers, which is why we have introduced a greater selection of mortgages at different product fees. The combination of price, choice and market-leading speed is why so many brokers are turning to Atom bank.”
