Atom bank has reduced rates across its mortgage products by up to 0.25% to pass on recent reductions in swap rates for customers with both clean and less than perfect credit histories.
The app-based bank reduced rates on selected prime products, with 2-year and 3-year rates cut by up to 0.25% and 0.20%, respectively, and 5-year rates cut by up to 0.15%.
Atom bank also cut rates on its 5-year near-prime purchase and remortgage products by 0.10%; this range was developed for 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, said: “We are committed to helping as many people as possible get onto the housing ladder, so delivering the best value to customers, as soon as we can, is always a fundamental aim of the bank.
“With the increased cost-of-living still affecting many households, passing on rate reductions to new and existing customers enables us to help both Prime and those Near Prime borrowers with a less than perfect credit history who may struggle to secure a deal elsewhere.”
Want to know more? Look out for Atom bank’s interview in the upcoming print issue of The Intermediary
