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Atom Bank, Fleet Mortgages and Leed BS remove select deals – round-up

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  • 22/06/2023
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Atom Bank, Fleet Mortgages and Leed BS remove select deals – round-up
Atom Bank will be temporarily removing select prime purchase and remortgage products at 6pm today.

The lender said that to secure a product, full mortgage applications would need to be submitted by 6pm.

Removals include two-year fee-paying deals between 60 and 90 per cent loan to value (LTV), and fee-free deals with the same term from 60 to 85 per cent LTV.

Three-year fee-paying deals up to 85 per cent LTV will be removed, along with fee-free equivalents up to 80 per cent LTV.

On the five-year side, fee-paying products up to 85 per cent LTV and fee-free deals at 60 per cent LTV will be taken down.

Atom Bank said that its near prime and retention-only range would remain unchanged and that the withdrawal was temporary with new deals coming back to market next week.

Atom Bank has maintained its standard variable rate at 6.99 per cent.

A spokesperson said: “Due to price increases across the market, we’ve seen demand increase significantly. We have made the decision to take these products off sale temporarily to protect service levels for our brokers and customers, returning next week.”

Fleet Mortgages temporarily withdraw tracker deals

Fleet Mortgages is temporarily removing its standard tracker products and green tracker deals following the Bank of England’s decision to increase the base rate to five per cent.

The lender said that replacement products would be available early next week and it would share information with brokers as soon as possible

 

Leeds Building Society

Leeds Building Society is increasing rates for selected shared ownership and residential fixed rates and withdrawing three-year fixed residential rates.

Selected residential products will go up by 0.15 per cent, shared ownership deals by between 0.1 and 0.3 per cent and interest-only will increase by around 0.25 per cent.

The lender has also introduced a two-year fee-free retirement interest-only product, which has a maximum LTV of 55 per cent and a rate of 6.35 per cent.

Shared ownership deals are priced from 5.59 per cent at 75 per cent LTV, while residential products at 90 per cent LTV are priced at 5.99 per cent.

The lender said that applications for withdrawn products would need to be submitted by midnight tonight.

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