Atom bank makes further cuts to Prime and Near Prime mortgage rates

Atom bank, the UK’s highest rated bank Trustpilot, has cut rates across Prime and selected Near Prime mortgages by 0.10%.

It’s the second round of cuts within a short period, after Atom dropped rates by up to 0.15% in August, and demonstrates the bank’s commitment to providing borrowers with the best possible value.

The rate reductions take effect immediately, and mean that Prime rates now start at 4.84%, while Near Prime rates begin from 5.04%.

Near Prime – Purchase and Remortgage

• Two, three and five-year £1,500 fee products will be reduced by 0.10%
• Two year £900 fee and fee-free rates will be reduced by 0.10%

Prime – Purchase, Remortgage, Further Advance and Retention

• All two, three and five-year rates will be reduced by 0.10%.

Providing brokers and borrowers with choice

Atom bank has reduced rates repeatedly this year, across its entire residential mortgage range. These cuts have been made whenever possible, and showcase the bank’s determination to deliver brokers and borrowers with the best possible value products.

As well as lowering rates, Atom bank has also improved the breadth of its product range to make it easier for customers to access finance. The bank recently introduced a new tier of Near Prime products available with a £1,500 product fee. These products have proven incredibly popular already, accounting for a significant amount of Near Prime activity since launch, highlighting how product innovation ensures the needs of a wider group of borrowers can be met. Atom bank also increased the maximum LTV available on Near Prime products to 90%, opening them up to a wider range of borrowers with less than perfect credit.

Richard Harrison, Head of Mortgages at Atom bank, said:

“I’m delighted that we have been able to introduce another round of cuts. Our frequent rate reductions this year demonstrate how committed we are to providing brokers and their clients with outstanding value. Crucially, this focus extends to borrowers with imperfect credit scores, with selected Near Prime products also being reduced.

“Just as important as headline rates is the breadth of options open to borrowers, which is why we have introduced a greater selection of mortgages at different product fees. The combination of price, choice and market-leading speed is why so many brokers are turning to Atom bank.”

ENDS

For Square 1 Media

Paul Hunt, paul@square1media.co.uk 07912 103971

John Fitzsimons, john@square1media.co.uk 0779 367 6977

For Atom

Robbie Steel, robbie.steel@atombank.co.uk 07538 775 701

About Atom bank

Atom bank is the UK’s highest rated bank on Trustpilot, and is on a mission to make the experience of borrowing and saving faster, simpler and better value than anyone else. The bank launched operations in April 2016 as the UK’s first app-based bank, and offers award-winning mortgages and savings through its app, alongside secured business lending for small and medium-sized enterprises.

Based in the North East of England with a team of nearly 600 people, Atom is here to change banking for the good, for the better, and for everyone. This means focusing on customers’ needs, delivering better value than the incumbents, providing an exceptional app-based experience and offering award-winning customer support via phone, chat, email and social channels. The bank has some of the best customer service credentials in the UK, having achieved 5-star ratings on both the iOS and Android App Stores, whilst consistently delivering Net Promoter Scores (NPS) in the high 80s.

Based in Durham, Atom is an engaged and active member of the North East Community. In 2022 Atom signed a five-year Memorandum of Understanding with Durham University to progress key research and diversity initiatives. The region has one of the highest levels of youth unemployment in the UK and Atom is passionate about addressing the critical digital skills gap and helping develop young people and other groups that are under-represented within the industry. In 2024, Atom purchased 25 acres of newly planted broadleaf woodland in Northumberland to sequester 7000 tonnes of carbon, which will account for all its operational emissions since founding. This forms part of the bank’s pledge to be climate positive by 2035, becoming the first UK bank to make this commitment.

As of November 2021, all employees enjoy a four-day working week, after Atom became the largest company – and only bank – in Britain to introduce the policy for all employees, with no reduction in salary.

The Atom executive team are highly experienced, having built and run some of the most well-respected banks in the UK. CEO Mark Mullen has 30 years’ experience in the sector and was previously CEO at the multi- award-winning telephone and internet bank first direct. The team is supported by a strong non-exec board, chaired by Lee Rochford.