Atom Bank has lowered prime rates by up to 0.45% and retention and further advance rates by up to 0.3%.
Rates for Atom Bank’s two-year purchase and remortgage deals are falling by up to 0.3%, and three-year rates are falling by up to 0.45%. Five-year fixed rates are coming down by up to 0.3%.
The lender’s two-year fixed rate at 90% loan to value (LTV) with a £900 fee has gone down from 5.99% to 5.69%.
The firm’s three-year fixed rate at 90% LTV with no fee has fallen from 5.99% to 5.59%, and its five-year fixed rate at 95% LTV with no fee has decreased from 5.59% to 5.34%.
In its retention and further advance range, three-year fixed rates will decrease by 0.3% and 0.25%. Cuts apply to two- and five-year deals.
Richard Harrison (pictured), head of mortgages at Atom Bank, said: “Atom Bank is determined to offer great-value mortgage products at speed, and we are delighted to be able to pass on the recent drop in swap rates through these rate cuts.
“We know that brokers love the service we offer and will welcome these more competitive rates, particularly for those clients with smaller deposits. Product transfers are also a key part of market activity right now, so we are keen to support brokers and our existing customers with competitive pricing on our retention products.”
The rate changes come off the back of several criteria changes, including changes to its near prime criteria and an increase of the max LTV for large commercial mortgages.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
