It lowers rates by up to 0.20% across Prime and Near Prime products
Digital lender Atom bank has announced further fixed rate reductions across its Prime and Near Prime mortgage products – the sixth cut that the bank has made on its Prime rates since August.
The app-based bank has reduced fixed rates on its Prime products, with two-year rates reduced by up to 20 basis points (bps), three-year rates by up to 10bps, and five-year rates by up to 15bps.
On the lender’s Near Prime range, 60% LTV rates have been reduced by up to 15bps and 85% LTV rates by up to 20bps.
“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,” said Richard Harrison (pictured), head of mortgages at Atom bank. “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.”
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