Atom bank has cut rates across its Prime and Near Prime mortgage ranges.
Rates have been reduced by up to 0.10% on the digital lender’s Prime mortgage products, and by up to 0.15% on Near Prime mortgage products.
The changes come into effect immediately.
As a result of these reductions, Prime mortgage products now start at 4.94%, while Near Prime rates are available from 5.04%.
The rate cuts follow the recent introduction of a raft of new Near Prime products with a £1,500 fee, providing an even wider level of choice to brokers and their clients.
Alongside the new lower rates, Atom bank has extended the range of products available with a £1,500 fee, to include 3- and 5-year fixed rates at between 60% and 80% loan-to-value (LTV) following the most successful month on record for the bank’s Near Prime range in July.
The £1,500 fee products account for over 40% of Atom’s Near Prime demand since launch last month, and have proven particularly popular with borrowers with higher borrowing needs.
Richard Harrison, head of mortgages at Atom bank, said: “I am delighted to announce another raft of rate cuts for both our Prime and Near Prime mortgages.
“Atom bank is committed to delivering great value to borrowers, even if they have an imperfect credit history, and I’m certain brokers will welcome this latest round of rate cuts.
“We continue to set internal records for Near Prime activity on a regular basis. This is testament to the improvements we have made to criteria over the last year, as well as our ability to provide borrowers with an easy app based journey and clear pathway back to Prime, something many specialist lenders cannot deliver.”
