Atom bank cuts rates across ‘Near Prime’ residential mortgage range

Atom bank has reduced rates across its ‘Near Prime’ residential mortgage range; products available at between 60-85% LTV, for both purchase and remortgage applications, have been cut by 0.1%. Meanwhile, for those looking to borrow at 90% LTV, the rates have been reduced by 0.15%. 

These rate reductions apply to Atom bank’s two, three, and five-year fixed rate Near Prime mortgage products. Rates now start at 5.14% for five-year fixed rates, 5.34% for three-year fixed rates, and two-year fixed rates are available from 5.49%. 

Over the last twelve months, Atom bank has recorded high levels of interest in its Near Prime proposition. 

“We have seen market pricing fall over recent weeks, and we’re responding to this by reducing the rate to ensure we continue to offer great value products. The activity we have seen over the last year shows how important Near Prime has become.

“We will continue to improve our proposition wherever possible, to ensure we become the go-to lender for brokers when their customer has an imperfect credit record,” said Richard Harrison, head of mortgages at Atom Bank.