Atom bank reduces fixed mortgage rates by up to 0.20%

02 November 2023

● Reductions of up to 0.20% between 60-95% LTV across Prime and Near Prime products
● 6th Prime rate reduction made since August 2023 as Atom strives to offer great value
● Reduction follows £100m capital raise as Atom looks to accelerate lending

Atom bank has today made further fixed rate reductions across its Prime and Near Prime mortgage products by up to 0.20%, making this the sixth Prime rate reduction the Bank has made since August 2023.

The UK’s first app-based bank has reduced fixed rates on its Prime products, with 2-year rates reduced by up to 0.20%, 3-year rates by up to 0.10% and 5-year rates by up to 0.15%. On its Near Prime range, 60% LTV rates have been reduced by up to 0.15% and 85% LTV rates by up to 0.20%.

These reductions across the range aim to help a wide range of borrowers, particularly those with smaller deposits, and further demonstrate the Bank’s commitment to deliver great value to customers.

Richard Harrison, Head of Mortgages at Atom bank commented: “In three months, we have reduced rates across our Prime range six times, ensuring we pass on swap rate decreases as quickly as possible so that borrowers can benefit immediately. We also continue to look at the pricing of our Near Prime range, making sure customers who may have experienced credit issues in the recent past continue to get the best possible deal.

“Following our recent capital raise, the Bank is looking to accelerate lending and balance sheet growth as we continue to challenge the established banks. We have a relentless focus on delivering industry leading cost efficiency and service, which allows us to offer better value to a wide range of customers.”

For more information on Atom’s residential mortgages, visit https://www.atombank.co.uk/mortgages/