Atom Bank has reduced rates on its prime and near prime products by up to 0.15%, effective immediately.
Atom Bank’s two-year fixed rate prime products have been lowered by around 0.1% and cover deals for purchase, remortgage, retention and further advance.
Select two- and three-year near prime rates will also fall, with two-year deals dropping by 0.15% and three-year deals decreasing by up to 0.1%.
Richard Harrison, head of mortgages at Atom Bank, said: “We want our customers to enjoy the fairest possible pricing while getting an offer as quickly as possible. As swap rates have moved, we have been able to reduce our own fixed rates across a swathe of two- and three-year deals to better support borrowers.
“It’s important these rate cuts include near prime products, where we have seen a notable increase in applications in the last 12 months. We know that this segment of borrowers is often under-served by the market, and we’re committed to opening up mortgage finance to more of those who may have a less-than-perfect credit rating.
“Atom Bank broke a swathe of internal records in 2024, but we are not interested in resting on our laurels – we will continue to offer value, integrate technology to increase speed to offer and adapt our criteria wherever possible to deliver for brokers and borrowers.”
Five ways we’ve improved our Premier service
Sponsored by Halifax Intermediaries
Family BS reduces rates and changes BTL criteria
Family Building Society has changed the rates for select owner-occupier interest-only and buy-to-let (BTL) deals and widened its limited company BTL criteria.
The lender’s two-year fixed owner-occupier interest-only rate has been cut by five basis points (bps) and its two-year fixed BTL rates have been lowered by around 10bps.
Its five-year owner-occupier interest-only rates have gone up by around 10bps.
The maximum LTV for UK landlord, limited company, expat BTL ranges has been increased to 75%. The upper LTV for multi-unit freehold blocks (MUFBs) remains the same.
Family Building Society has widened its limited company criteria to accept an additional Standard Industry Classification (SIC) code, so it can consider applications from special purpose vehicles (SPVs) registered under SIC 681000, buying and selling of own real estate, SIC 68209, other letting and operating of own or leased real estate, and SIC 68320, management of real estate on a fee or contract basis.
Darren Deacon, head of intermediary sales at Family Building Society, said: “Enhancing our already flexible BTL criteria by increasing our maximum LTV, as well as adding to our acceptable list of SIC codes, will be welcomed by UK and expat landlords.
“As the market undergoes further upheaval with uncertainty surrounding swap rates, landlords looking for short-term security of rate will, I’m sure, be pleased to see the price reductions we were able to make on our two-year fixed rate products.”
