Atom bank slashes large commercial mortgage rates

It is also reducing rates across the rest of non-government guaranteed commercial range

Atom bank slashes large commercial mortgage rates

Digital lender Atom bank has reduced rates on its commercial mortgage range, including up to 0.25% rate cuts on large commercial mortgages of between £2 million and £4 million.

The rate reduction comes after Atom bank increased the maximum loan-to-value (LTV) available on large commercial mortgages. Now, mortgages of up to £5 million are available up to a maximum of 75% LTV against the market valuation, a move which allows some applicants’ maximum potential borrowing to increase from £1 million to £5 million.

Aside from rate cuts for large commercial mortgages, the bank is also reducing rates across the rest of its non-government guaranteed commercial range by up to 0.68%, with immediate effect.

Commercial customers benefit from bespoke pricing at Atom bank, based on their circumstances, though brokers can obtain an indicative quote using the ‘Quick Quote’ tool on the Atom bank broker portal, which also allows brokers to instruct a valuation for the case at any point up to the issuing of an approval in principle (AIP).

“Across the board, Atom bank is now even more competitive on price as we look to support more SMEs with their borrowing needs,” said Tom Renwick (pictured), head of business lending at Atom bank. “For high quality borrowers, there has not been a better time to take out a loan with Atom bank, with highly competitive prices in the £2 million to £4 million space.

“The cuts on large commercial mortgages, combined with our recent increase to the maximum LTVs available, have been done on the back of a wider appetite for larger loans, and we are keen to unlock finance for borrowers at higher debt levels.

“We know that cost is only one element in delivering for commercial brokers and their clients, which is why we continue to introduce improvements to our processes which mean we can deliver a smooth and speedy service. As a result of the ongoing improvements we are making, we are providing an offer within 14 working days on average for fully packaged applications.”

Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.