"There will be businesses up and down the country looking to kick on with their growth ambitions for the year ahead, and this rate reduction will make external funding more accessible for them."
- David Castling, head of intermediary distribution at Atom Bank
Atom Bank has reduced the interest rates across its range of fixed and variable commercial mortgages.
Fixed rates have been reduced by up to 0.47%, while variable rates have fallen by up to 0.41%. As a result of the cuts, variable rates now start at 1.65% over base rate, and fixed rates start at 6.23%.
In addition, loans of between £1m and £4m qualify for a further 0.25% reduction. Variable rate loans that fall within this range could start from 1.40% over base rate and 5.97% on a fixed rate.
Mortgage brokers can use the Quick Quote tool on the Atom Bank portal to obtain an indicative quote for their business clients. Atom provides business borrowers with bespoke rates, which are calculated based on the individual circumstances of the borrower.
David Castling, head of intermediary distribution at Atom Bank, commented: “Atom Bank is passionate about providing the best possible value to business borrowers, so I have no doubt that this rate cut across our fixed and variable products will be welcome.
“There will be businesses up and down the country looking to kick on with their growth ambitions for the year ahead, and this rate reduction will make external funding more accessible for them. Just as important is recognising that all businesses are different and providing that flexibility when assessing an application. We know that brokers value the fact that Atom Bank provides pricing tailored to the individual borrower, rather than employing a ‘one size fits all’ approach.”
