With immediate effect, variable rate commercial mortgage applications will be stressed against a rate of margin plus base rate plus 1%.
The “simplification” of the stressed interest rate is in response to broker feedback and means customers will be able to “improve their borrowing power and reach their growth goals”.
Brokers will also have “greater flexibility”, Atom Bank said.
Atom reiterated that it would mean business borrowers can secure “bespoke pricing” from the lender, and loans of between £1m and £4m can benefit from an additional 0.25% rate discount.
David Castling, head of intermediary distribution at Atom Bank, said: “By simplifying our stressed interest rate, we are helping business borrowers to access larger loans and take the finance they need in order to achieve their ambitions. Whether they are looking to grow, to purchase new premises or to refinance existing facilities, Atom Bank is determined to support SMEs in reaching their potential and our improved affordability assessment will mean we can do just that.
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“Broker feedback is incredibly important to us, and has helped inform a host of the improvements we have made to our commercial proposition in recent months. We will continue to work closely with brokers to identify any further enhancements we can deliver, which will provide a tangible boost to SMEs in the UK.”
Earlier this month, the firm increased its near prime LTV to 90%.
