Atom bank, the UK’s first app-based bank, has announced that it will reduce the rates on a range of its mortgage products to help borrowers cope with soaring costs.
The price reductions, up to 0.25%, apply to Atom’s purchase and remortgage products, with selected 5-year products now available from 4.19%.
The rates for the bank’s 5-year 85% and 90% LTV fee-paying products are currently among the most competitive in the market.
The move follows recent policy changes that include increasing the offer validity period for its remortgage and purchase products to six months.
Richard Harrison (pictured), head of mortgages at Atom bank, said the reductions were aimed at giving borrowers better value for money during the current housing affordability crisis.
