Atom bank expands discount; Gen H cuts rates; Clydesdale raises fixes
Atom bank, Gen H, and Clydesdale Bank have introduced rate adjustments aimed at different segments of the market, impacting commercial, residential and buy-to-let borrowers.
Digital lender Atom bank has extended its rate discount on large commercial mortgages. The discount, previously available on loans between £1 million and £2 million, now applies to loans up to £4 million.
The 0.25% rate reduction is available for applications submitted before November 29, with the aim of providing greater support to businesses seeking larger loans.
In the residential market, Gen H has announced rate cuts across its mortgage products, reducing rates by up to 25 basis points (bps). The cuts affect both first-time buyers and those looking to remortgage, with 90-95% loan-to-value (LTV) five-year fixed rates dropping by 25bps.
Two- and three-year fixed rates in the same LTV range will see reductions of up to 16bps, while rates for loans up to 85% LTV will decrease by 15 to 25bps.
Meanwhile, Clydesdale Bank has also implemented a series of rate increases across its residential and buy-to-let mortgage products as a response to shifting market conditions and rising costs in the lending environment.
Selected two- and five-year fixed rates for loans between 65% and 80% LTV have increased by up to 25bps, while product transfers and remortgages have seen hikes ranging from 10 to 25bps.
In the buy-to-let market, five-year fixed rates for loans between 60% and 75% LTV also rose by up to 10bps.
Read more: Your guide to Clydesdale for intermediaries
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