Rates have also been reduced on selected two-year BTL products for both expats and international residents.
The new rental rates apply to all finance-to-value (FTV) bands and are available on both standard and green home finance products.
For UK residents who are new customers, the starting rates have been reduced by up to 0.66% for HPPs and up to 0.51% for BTL.
The two-year fixed HPP rate is 5.58% and the five-year HPP rate is 5.53%.
For UK expats and international residents, starting rates have reduced by up to 0.14% on selected two-year fixed term BTL products.
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The two-year fixed BTL rate is 3.63% and the five-year fixed BTL rate is 4.79%.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We are continuously assessing our pricing to ensure that our customers receive the best rate possible when they choose us as their home finance provider and today’s rate reductions reflect this.
“We hope that our new pricing will help even more homebuyers and prospective landlords to take their next step on the property ladder.”
Atom reduces rates in Prime mortgage range
Atom Bank has made reductions of 0.15% across all of its prime range. This encompasses products up to 95% loan to value (LTV), and both fee-charging and fee-free options.
The reductions will apply with immediate effect. As such, rates start at 5.29% for a two-year fixed rate at 0-85% LTV with a £900 fee.
Atom Bank said this move reflected its commitment to providing brokers and borrowers with competitive options, irrespective of their credit rating.
The reductions come a week after the bank reduced its entire near prime range by 0.1%.
Richard Harrison, head of mortgages at Atom Bank, said: “Atom Bank has built a reputation for providing our borrowers with great value for money, and that comes from reducing rates whenever circumstances allow. Just as with our recent near prime cuts, these latest reductions apply across the entire prime range, ensuring that all prospective borrowers will benefit, no matter their deposit or equity size.”
