Atom bank has reduced rates across its range of Prime mortgage products by up to 0.25%.
Rates on products available up to 85% loan-to-value have been reduced by 0.20%, while those at 90% LTV have dropped by 0.25%. Finally, products at 95% LTV have been cut by 0.10%.
The reductions apply with immediate effect, and mean that Prime rates begin at 5.29% for borrowers with a deposit of at least 15%.
Atom bank’s Prime product range includes two-year, three-year and five-year fixed rate options, across both fee-free and fee-assisted options.
The Prime rate reductions come just days after cuts of 0.20% were introduced on Atom’s Near Prime product range.
The comprehensive rate reductions reflect recent improvements in swap markets, and highlight Atom bank’s ongoing focus of ensuring its products remain competitive in the market. Given the backdrop of global uncertainty and continued inflation, the cuts provide a timely boost to those looking to purchase or remortgage.
Brokers and their clients also benefit from Atom bank’s market-leading speeds, with full mortgage applications moving to offer in an average of 3 working days in March.
Richard Harrison, Head of Mortgages at Atom bank, commented:
“We are pleased to be able to follow our Near Prime rate cuts with reductions across our Prime product range. Across the bank we are committed to delivering outstanding value and service to borrowers, irrespective of whether they have a spotless credit record or the odd blip.
“After the recent turbulence, we are seeing a period of relative stability in swap markets and are moving quickly to ensure brokers and their clients benefit from more competitive rates. By reducing rates on our Prime range, we’re providing a compelling range of options for all borrowers, underpinned by the speed and certainty that defines the Atom bank experience.”
