Variable rates now start at 2.04% over the base rate, and fixed rates at 6.25%
Digital lender Atom bank has announced reduced rates on its commercial mortgages by as much as 0.61%.
Starting rates for variable loans are now as low as 2.04% over the base rate, with fixed rates beginning at 6.25% for loans up to a 45% loan-to-value ratio.
The bank offers a variety of commercial products, including Business Banking Secured Loans (BBLS) and Recovery Loan Scheme (RLS) products.
Atom bank has also announced it will stop accepting new RLS applications after midnight on May 28.
“We know how crucial price is for commercial customers at the moment, which is why we are delighted to be able to make further reductions to our commercial mortgage rates,” said Tom Renwick (pictured), head of business lending at Atom bank. “With the RLS coming to an end next month, in particular, we want to ensure that businesses are able to take advantage at the best possible rates on this product.
“Atom bank is passionate about combining our efficient digital model with fair, bespoke pricing in order to deliver the support that SMEs across the country need. This temporary price cut is just the first in a series of propositional changes we are making which will ensure we continue to stand out from the crowd in delivering for the wide range of commercial borrowers who are currently underserved by high street banks.”
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