Atom bank cuts rates across Prime product range

It also reduces rates on Retention products

Atom bank cuts rates across Prime product range

Digital lender Atom Bank has announced a reduction in rates across its entire suite of Prime mortgage products.

Rates have been cut by up to 15 basis points (bps) across Atom bank’s Prime mortgage range, following a reduction of up to 45bps at the end of last month.

The lender believes the reprice will position their products as a competitive option for borrowers with smaller deposits, a market segment the bank has consistently supported.

Atom bank’s new rates as a result of the rate cut include:

  • A two-year fixed rate at 5.54% with a £900 fee at 90% loan-to-value (LTV), down from 5.69%
  • A three-year fixed rate at 5.59% with no application fee at 95% LTV, down from 5.74%
  • A five-year fixed rate at 5.04% with a £900 fee at 90% LTV, down from 5.19%
  • A five-year fixed rate at 5.24% with no application fee at 95% LTV, down from 5.34%

The lender has also reduced rates on its Retention products by up to 0.15%. Notable rates in this range include a two-year fixed rate at 5.64% and a five-year fixed rate at 4.99%, both available up to 75% LTV with no application fee.

“Following recent swap rate movements, we are delighted to be able to further reduce our rates across our Prime and Retention products, delivering even greater value to brokers and their customers,” said Richard Harrison (pictured), head of mortgages at Atom bank.

“This will be particularly welcome for those with smaller deposits, given the challenges such borrowers face in accessing the market. Atom bank will continue to focus on supporting such customers on their mortgage journey.

“We were delighted to again be named Best Bank in the latest Smart Money People Broker Survey. We know brokers love our speedy service and easy criteria, so we hope news of further rate cuts will be welcome.”

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.