Atom bank has recored its strongest ever quarter for commercial mortgage lending in Q3 2024.
In the three months to October, Atom bank received a record number of applications for commercial mortgages, up by 43% on the level of applications received in the same period of 2023.
Atom bank also set a new record for the value of offers provided over the three months, beating the previous record which was set in the preceding quarter.
The level of offers rose 142% compared with the same period last year.
As a result of the business levels seen in recent months, Atom bank has already surpassed the 2023/24 financial year in terms of the value of offers and completions for commercial mortgages.
This followed Atom bank’s recent milestone of £1bn in commercial completions back in June 2024.
Tom Renwick (pictured), head of business lending at Atom bank, said: “Atom bank is passionate about supporting [small and medium enterprises (SMEs)] across the UK, and these record-setting activity levels show that our products and processes are striking a chord with brokers and their business clients.
“We have made significant improvements to our commercial origination processes to deliver significantly faster credit assessment speeds that allow business borrowers to receive the certainty they require to proceed with their plans quickly.
“Combined with our commitment to delivering exceptional value, it’s clear that Atom bank is making a tangible difference to this market, helping businesses to set themselves up for success.
“There is way more to come too as we make some transformative upgrades in the early part of next year, so watch this space.”
