Atom Bank extends commercial mortgage rate discount

Atom Bank has extended the rate discount available on its range of large commercial mortgages.

The move means that commercial mortgages of between £1m and £4m will now qualify for a rate discount of 0.25%. Previously the discount was available on commercial mortgages of between £1m and £2m.

The new discount, which takes effect immediately, is available for applications submitted before midnight on Friday, 29th November.

For trading businesses, discounted rates for loans between £1m and £4m start from 6.28% at 45% LTV and 7.24% at 65% LTV. Property investment rates have reduced to 6.21% at 45% LTV and 6.89% at 65% LTV.

Variable rates for businesses start from 2.17% at 45% LTV and 2.96% at 65% LTV, while property investment rates start at 2.09% and 2.71% respectively.

Brokers can use the Atom Bank Quick Quote tool in order to create an indicative quote for their clients. Business borrowers benefit from bespoke rates, based on their status and circumstances. 

David Castling, head of intermediary distribution at Atom Bank, commented: “Having had great feedback from our broker partners, we are delighted to be able to extend our rate discount to a broader range of large commercial loans. 

“Many brokers are currently seeing increased interest from commercial clients across a range of loan sizes, and we want to support them with their plans through competitively priced, bespoke commercial mortgages. 

“Atom bank customers enjoy not only outstanding rates but impressive speed and service too, ensuring that SME owners have prompt access to the funding they require."