Atom Bank cuts prime residential mortgage rates

Atom Bank has reduced rates across its prime residential mortgage range.

Rates are being cut by 0.10% across the entirety of the prime range. As a result, 95% LTV rates start at 5.59% on a two-year fix, 5.44% on a three-year fix, and 5.24% on a five-year fix.

Rates are also being reduced for borrowers looking to raise additional sums with Atom Bank, with a drop of 0.10% on both further advance and retention products. 

Richard Harrison, head of mortgages at Atom Bank, commented: “I have no doubt that this rate reduction will be warmly welcomed by brokers and borrowers alike. These cuts mean that Atom Bank continues to offer incredible value to prime borrowers, particularly those with only a modest deposit, who are looking to raise the funds for a purchase, to remortgage, or simply to obtain a further advance.

“These rate cuts go hand in hand with our recent criteria improvements, increasing income multiples to six times income for those earning above £75,000 and maximum LTVs to 95% on new-build houses in London and the South East, and are driven by our desire to deliver for a greater number of borrowers who may have been underserved elsewhere.

“The combination of keen pricing, cutting edge technology and a laser-like focus on working faster and more efficiently is helping Atom Bank build a strong reputation with brokers. The fact that we have been named best bank in the Smart Money People Mortgage Lender Benchmark for H2 of 2024 - our third straight win - shows how our products and processes are resonating with advisers and their clients. We are determined to maintain that momentum in 2025 and beyond."