Atom makes further cuts to prime and near prime mortgage rates

Atom Bank has reduced rates across prime and selected near prime mortgages by 0.10%.

It’s the second round of cuts within a short period, after Atom dropped rates by up to 0.15% in August.

The latest rate reductions mean that prime rates now start at 4.84%, while near prime rates begin at 5.04%.

Among the rates reduced are near prime purchase and remortgage rates and prime purchase, remortgage, further advance and retention rates.

The bank recently introduced a new tier of near prime products available with a £1,500 product fee. Atom also increased the maximum LTV available on near prime products to 90%, opening them up to a wider range of borrowers with less than perfect credit.

Richard Harrison, head of mortgages at Atom Bank, said: “I’m delighted that we have been able to introduce another round of cuts. Our frequent rate reductions this year demonstrate how committed we are to providing brokers and their clients with outstanding value. Crucially, this focus extends to borrowers with imperfect credit scores, with selected near prime products also being reduced.

“Just as important as headline rates is the breadth of options open to borrowers, which is why we have introduced a greater selection of mortgages at different product fees. The combination of price, choice and market-leading speed is why so many brokers are turning to Atom Bank.”