Mortgage News
Atom Bank brings back two-year fix and cuts rates
Digital lender Atom Bank has launched a competitive two-year fixed-rate mortgage, as well as cutting rates on its three-year and five-year deals.
The app-based provider is to offer a two-year fix at 1.49% without any fees, and a 1.39% with a £900 fee, at 60% LTV.
Charlotte Nelson from Moneyfacts.co.uk said: “At first glance these new two-year fixed rate deals are competitively priced and sit comfortably towards the top of the market.”
Rates on its three-year fixes, which were launched last month, are also being trimmed, as well as five-year rates.
For borrowers with a deposit of 10%, the deals include a five-year fix at 2.39% and 90%, and a three-year fix at 2.14%, both without product fees.
What mortgage and protection advisers should take from the FCA’s AI stance
Sponsored by Sesame Bankhall Group
Maria Harris, director of intermediary lending at Atom Bank (pictured), said: “We’ve had some great feedback from brokers about the three and five-year products we launched but we’ve also had a lot of requests to bring back our two-year rates.
“Customers are looking for choice, not just on rate but also on service and proposition, so being able to offer competitive pricing alongside a digitally led service is exactly what we’re all about.”
The digital lender recently broke through the £1bn lending mark.
And at the end of last year, Atom revealed it had successfully made a mortgage offer from application in just 21 seconds.