Atom Bank has reduced rates across its prime and near prime mortgage products by as much as 0.25%.
The changes take effect from 12 September and the lender said this would help borrowers with less-than-perfect credit.
Rates in this offering now start from 5.29% for a five-year fix at 60% loan to value (LTV) with a fee or 5.44% with no fee.
Across its prime mortgage range at 95% LTV, rates have been reduced by up to 0.15%. Pricing here starts at 4.94% for a five-year fix with a fee or 5.14% with no fee.
Richard Harrison, head of mortgages at Atom Bank, said: “Atom Bank is passionate about going further in supporting borrowers who may have been poorly served traditionally.
“These rate cuts mean near prime borrowers and prime borrowers with small deposits have even more competitive products from which to choose and can benefit from the speedy service we are building a reputation for.”
He added: “We’re delighted that more brokers are now realising how competitive our near prime product is, and we are slowly becoming known as a go-to for any clients who may have had some credit issues in the past and have been turned down by other mainstream lenders.
“We are committed to working closely with intermediaries to make the changes to our products and processes, which mean we are easy to work with and continue to deliver for borrowers who want to make homeownership a reality.”
These changes follow the recent launch of a new website for intermediaries working with Atom Bank, with streamlined functions.
The Mortgage Lender reduces BTL rates
The Mortgage Lender (TML) has made further changes to its buy-to-let (BTL) mortgage rates, with lower pricing for five-year fixes.
Rates now begin at 4.71% for standard properties, down from 4.86% previously.
TML has also reduced rates across its portfolio multi-loan products, to start from 5.37%, and reductions have been made to its expat, holiday let and short-term let deals.
For products available on houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), rates now begin from 4.96%, following cuts of up to 0.1%.
Steve Griffiths, chief commercial officer at TML, said: “We are pleased to once again announce a significant number of rate reductions across our buy-to-let product ranges. These reductions, in addition to the recent re-introduction of our popular fee saver products, provide further options for brokers and their landlord customers looking for solutions that meet their borrowing requirements.
“We’re committed to providing as much value as we can to our broker partners and their customers, so will continue to review our products to ensure we provide landlords, as well as residential customers, with value in an ever-evolving market.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
