Atom bank reduces rates by up to 0.30%


richard harrison atom bank

Atom bank, the UK’s first app-based bank, has today reduced Prime mortgage rates by up to 0.30%, plus all Near Prime rates by 0.20%, to immediately pass onto borrowers the latest decrease in swap rates.

Atom bank’s reductions are particularly competitive at high LTV’s, as the digital lender continues to help those borrowers with smaller deposits.

Prime 5-year fixed rates are now 4.94% to 90% LTV and 5.19% to 95% LTV. Its 2-year fixed rates are now 5.44% to 90% LTV and 5.79% to 95% LTV.

All these products come with no fee, a free valuation and remortgage products feature fee-assisted legals.

Over the last six months, the digital bank has continued to reduce rates on its Prime and Near Prime range, while focusing on reducing application to offer times, further underlining its commitment to passing on value to customers and enabling more people to own their own home.

These changes follow December’s announcement that Atom bank has been awarded Best Bank in the Smart Money People H2 2023 Mortgage Lender Benchmark Study, which covers mortgage broker opinions on UK mortgage lenders for the second half of 2023.

Richard Harrison, Head of Mortgages at Atom bank commented:

“The recent statistics highlighting that lending to first time buyers was down by a fifth in 2023 demonstrates the plight of many who are struggling to get onto the housing ladder.

We know how important this sector is, so we’re delighted to be offering them further rate cuts with a slick digital experience that can reduce the hassle often associated with an application.

Equally, we know that the pressure that has been put on household budgets means that increasing numbers of would-be borrowers are more likely to fall within the Near Prime category, so we want to continue our commitment to supporting this area of the market by cutting rates across the range.

Having made a number of rate reductions in recent months, we remain steadfast in our commitment to ensure we offer excellent value and a simple, speedy process to help more people achieve their home buying aspirations.”