"Atom bank is determined to support more borrowers on their homeowning journey, including those with small deposits or an imperfect credit score, who have been underserved by mainstream lenders in the past"
- Richard Harrison - Atom bank
Atom bank has announced that it has reduced rates across its Prime residential mortgage range by up to 0.20% on two, three, and five-year fixes, available for up to 95% loan to value. As a result of the reductions, both two-year fixed rates and three-year fixed rates now start at 4.99%, while rates for borrowers with a 5% deposit begin at just 5.24%.
The rate cuts take effect immediately and will provide Prime borrowers with a greater range of competitively-priced options, irrespective of their deposit or preferred fixed rate term.
Delivering for borrowers
Atom bank has made repeated cuts to its Near Prime range in recent months, as well as increasing the maximum LTV available to 90%, resulting in record activity levels. In February, the bank received the largest value of Near Prime applications since entering the sector, with applications up by 70% on an annual basis.
“These rate reductions mean brokers and their Prime clients benefit from a wider range of competitive deals to choose from," explained the bank's head of mortgages, Richard Harrison. "Atom bank is determined to support more borrowers on their homeowning journey, including those with small deposits or an imperfect credit score, who have been underserved by mainstream lenders in the past.
He added, “However, pricing is only part of the story. We have won accolades from brokers because of our outstanding speed, delivering application-to-offer times that are the envy of our peers. We continue to focus on ways in which we can become even faster, and provide borrowers with the certainty and peace of mind that comes from a rapid response.”
