Atom bank has reduced rates across its Near Prime residential mortgage range, effective from today (19th February).
Rates across the range have been cut by up to 0.20%, with Near Prime mortgages available at up to 85% loan-to-value (LTV).
As a result of the reductions, rates on 2-year fixes for Near Prime customers begin at 5.69%, while 3-year fixes start at 5.54% and 5-year fixes begin from as low as 5.34%.
Atom bank’s Near Prime range includes fee-free mortgage products, as well as those with an arrangement fee of £900.
David Castling (pictured), head of intermediary distribution at Atom bank, said: “We are certain that brokers and their clients will welcome these rate reductions.
“The cuts mean that Atom bank’s Near Prime range remains among the most competitive in the market in terms of price and flexibility, providing a greater range of affordable options to those who may have experienced a short-term credit blip.
“The challenges of recent years have resulted in more prospective borrowers falling into the Near Prime category, despite being fully capable of meeting repayments.
“We are passionate about supporting these borrowers on the path back to Prime, not only providing outstanding products for those with a less-than-perfect credit score, but also actively offering a Prime product to those borrowers when their circumstances improve sufficiently.”
