Atom bank reveals rate reductions across residential mortgage range

Atom Bank has announced that it is reducing rates across its residential mortgage range with immediate effect.

The bank has cut rates on its near prime range and the majority of its prime mortgage range by 0.10%. As a result, rates now start at 5.19% on prime 85% LTV products and near prime at 60% LTV.

The rate reductions follow recent changes to Atom’s lending criteria, including reducing the minimum household income required for customers to qualify for borrowing 5x income.

Richard Harrison, head of mortgages at Atom Bank, said: "Affordability is a real challenge for many would-be borrowers, and these rate cuts build on our recent LTI improvements to help more customers access the borrowing they need. Reducing rates across the vast majority of our products also means brokers can offer their clients even better value across both prime and near prime products.

"While competitive rates are important, so too is speed and certainty. Atom Bank’s investment in technology has delivered industry-leading turnaround speeds, empowering brokers and their clients to make informed decisions faster. Combined with continuous product improvement, we remain committed to making homeownership more accessible at every stage of the property ladder."