Atom bank makes further cuts to rates on Prime products

20 June 2024

• Prime rates reduced by up to 0.15%
• Retention product rates cut by up to 0.15%

Atom bank, the UK’s first app-based bank, has today reduced rates across its entire suite of Prime mortgage products.

Rates are being reduced by up to 0.15% across Atom bank’s range of Prime mortgage products, and follows a cut of up to 0.45% at the end of last month.

The latest cuts mean that Atom bank is particularly competitive for borrowers with smaller deposits, a vital area of the market the bank has long supported.

For example, the new range includes:

• Two-year fixed rate at 5.54% with a £900 fee at 90% LTV (was 5.69%)
• Three-year fixed rate at 5.59% with no application fee at 95% LTV (was 5.74%)
• Five-year fixed rate at 5.04% with a £900 fee at 90% LTV (was 5.19%)
• Five-year fixed rate at 5.24% with no application fee at 95% LTV (was 5.34%)

In addition, Atom bank has cut rates on its Retention products by up to 0.15%. Highlights of the range include a two-year fixed rate at 5.64% and a five-year fixed rate at 4.99%, both available up to 75% LTV and with no application fee.

The rate reductions take place with immediate effect.

Richard Harrison, Head of Mortgages at Atom bank, commented:

“Following recent swap rate movements, we are delighted to be able to further reduce our rates across our Prime and Retention products, delivering even greater value to brokers and their customers.

“This will be particularly welcome for those with smaller deposits, given the challenges such borrowers face in accessing the market. Atom bank has established itself as a champion of this segment of the market, and we will continue to focus on supporting such customers on their mortgage journey.”

“We were delighted to again be named Best Bank in the latest Smart Money People Broker Survey. We know brokers love our speedy service and easy criteria, so we hope news of further rate cuts will be welcome.”