Atom bank has made further reductions to its Near Prime mortgage range, cutting rates by 0.10% on 2-year and 3-year fixed rate products up to 85% loan-to-value.
The updated pricing sees 2-year fixed rates start from 5.39%, while 3-year fixed options begin at 5.24%. 5-year fixed rates remain unchanged, starting at 5.14%.
The specialist lender has seen record levels of activity in its Near Prime range, with April 2025 setting a new monthly high for applications. Atom bank said this growth has been supported by recent criteria enhancements and successive rate reductions.
A core part of the lender’s approach is its automatic upgrade pathway, which transitions Near Prime customers to Prime products at maturity if their credit profile improves. According to the bank, over 70% of Near Prime borrowers qualified for a Prime product over the past 12 months.
Richard Harrison, head of mortgages at Atom bank, said: “I am delighted to confirm another round of rate cuts on our Near Prime range, which I know will be welcomed by brokers and their clients. We are determined to provide borrowers with great value, even if they have experienced a temporary payment blip in the past.
“Combined with our market-leading speeds and flexible criteria, Atom bank’s Near Prime proposition is striking a chord with brokers, ensuring we increasingly become a go-to option for borrowers with an imperfect credit history.
“We are really proud of the fact that the majority of our Near Prime customers have qualified for a Prime product at maturity in the last year. We continue to provide a clear path back to Prime status for those borrowers who have suffered a temporary credit blip, ensuring that they get back on a sound financial footing when the time is right.”
