Atom bank has reduced rates on its near prime residential mortgages by up to 0.15%, effective immediately.
The changes apply to 2-year, 3-year and 5-year fixed rate products for both purchase and remortgage cases.
Rates for loans between 60% and 85% loan-to-value (LTV) have been cut by 0.10%, while 90% LTV products have decreased by 0.15%.
5-year fixed rates now start from 5.14%, 3-year from 5.34% and 2-year fixed from 5.49%.
Richard Harrison, head of mortgages at Atom bank, said: “We have seen market pricing fall over recent weeks and we are responding to this by reducing the rate to ensure we continue to offer great value products.
“The record-breaking activity we have seen over the last year shows how important Near Prime has become, and we will continue to improve our proposition wherever possible to ensure we become the go-to lender for brokers when their client has an imperfect credit record.”
