Atom bank has extended the rate discount on its large commercial mortgages, now offering a 0.25% discount on loans between £1m and £4m.
Previously, the discount applied only to loans between £1m and £2m.
The discount will take effect immediately for applications submitted before midnight on Friday, 29th November.
Representative fixed rates for loans of £1m to £4m include: for trading businesses, a fixed rate of 7.24% at 65% loan-to-value (LTV) and 6.28% at 45% LTV; for property investment, a fixed rate of 6.89% at 65% LTV and 6.21% at 45% LTV.
For variable rate loans, rates are 2.96% for trading businesses at 65% LTV and 2.71% for property investment at the same LTV.
Brokers can create indicative quotes for their clients using Atom bank’s Quick Quote tool.
The extended discount is part of Atom bank’s effort to support business borrowers in the UK and follows its largest loan to date, a £9.95m facility for a hotel refurbishment in Leicester.
David Castling, head of intermediary distribution at Atom bank, said: “Having had great feedback from our broker partners, we are delighted to be able to extend our rate discount to a broader range of large commercial loans.
“Many brokers are currently seeing increased interest from commercial clients across a range of loan sizes, and we want to support them with their plans through competitively priced, bespoke commercial mortgages.
“Atom bank customers enjoy not only outstanding rates but impressive speed and service too, ensuring that SME owners have prompt access to the funding they require.”
