Atom Bank, Gen H, Catalyst, and ASG Finance unveil competitive rate cuts and enhanced terms
Four lenders — Atom bank, Gen H, Catalyst Property Finance, and ASG Finance — have unveiled rate reductions across their respective mortgage and property finance products, offering brokers and their clients a range of more competitive financing options.
Digital lender Atom bank has cut rates on its commercial mortgage range. Variable rates have been reduced by as much as 76 basis points (bps), while fixed rates dropped by up to 73bps, with the largest cuts applying to higher loan-to-value (LTV) products.
Rates for borrowers at 75% LTV now start at 2.89% for variable and 7.36% for fixed, while 45% LTV borrowers can access rates as low as 2.06% variable and 6.43% fixed.
In addition to lower rates, Atom bank is offering a 25bps discount on loans between £1 million and £4 million for applications submitted by November 29. The lender has also streamlined its application process, with agreement in principles (AIPs) issued within one working day and offers typically finalised within 10 days.
Meanwhile, fintech mortgage lender Gen H has introduced its third round of rate reductions in three weeks, targeting its 90% and 95% LTV standard and homebuying bundle products.
Two- and three-year fixed rates have been cut by 10bps, while five-year rates have dropped by 12bps. The new rates are now available to intermediaries on Gen H’s broker panel, catering to borrowers with smaller deposits, complex incomes, and other unique circumstances.
#PropertyDevelopers and #Investors we've repriced all of our short term finance products & increased some of our LTV bandings too.
— Catalyst Property Finance (@CatalystPF) November 13, 2024
𝗙𝗼𝗿 𝗲𝗻𝗾𝘂𝗶𝗿𝗶𝗲𝘀 & 𝘁𝗼 𝗴𝗲𝘁 𝗮 𝗰𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗴𝘂𝗶𝗱𝗲:
📲 01202 112 900
📧 [email protected] pic.twitter.com/pYPCAjmGmt
Specialist lender Catalyst Property Finance has also reduced rates across its bridging, refurbishment, and buy-to-let products. Unregulated bridging loans now start at 0.79% per month, while rates for refurbishment finance range from 0.85% to 0.97% depending on the scope of works.
The lender has also increased LTV limits for second charge and commercial products to 70%, up from 65%.
Commercial lender ASG Finance has announced significant rate reductions across its product range, introducing a new short-term bridging loan with rates from 0.6% per month for its “stepper” product, which rewards early repayment within six months.
For longer-term needs, the lender has reduced its 12-month bridging loan rate to 1.1%, down from 1.25%. The product range, which supports a wide variety of property types, offers lending facilities from £500,000 to £7 million and up to 70% LTV.
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