Atom bank, the UK’s highest rated bank on Trustpilot, has today reduced rates across both Prime and Near Prime products.
The cuts demonstrate Atom bank’s commitment to providing brokers and their clients with access to competitively priced products, irrespective of whether they are looking to purchase or refinance a property.
Rates on the bank’s range of two-year fixed rate Prime products have been reduced by 0.10%. These include products for purchase, remortgages, retention and further advances.
Atom bank has also reduced rates on select Near Prime two- and three-year fixed rates. The two-year products, available at up to 80% and 85% LTV, have dropped by up to 0.15%, while the three-year fixed rates at those same LTV bands have been cut by up to 0.10%.
The changes take place with immediate effect.
Atom bank has repeatedly acted in order to deliver the best possible range of products to borrowers, from those with a spotless credit history to those who have experienced temporary repayment issues.
The latest cut follows a host criteria improvements last year, such as increasing the maximum loan-to-income limit to six times income for those earning more than £75,000, and raising the maximum loan-to-value available on flats, new-build flats and new-build houses in London and the South East.
Atom bank has worked extensively to speed up the mortgage process, in order to deliver a faster and less stressful experience for borrowers. As a result of that work, over the last year the average timeframe between application and offer has been reduced to just three days on average.
Richard Harrison, Head of Mortgages at Atom bank, commented:
“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 underserved 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.”
