The rate reductions take effect immediately.
Atom bank’s variable rates have been cut by up to 0.76%, while fixed rates have fallen by up to 0.73%, with the largest reductions applying to higher loan-to-values.
The bank is also currently offering a rate discount on large commercial mortgages, with those borrowing between £1 million and £4 million qualifying for a rate discount of 0.25%. The discount applies to all applications submitted before midnight on Friday, 29th November.
Tom Renwick, head of business lending at Atom bank, commented:
“I have no doubt that this latest rate cut on our commercial mortgage range will be welcomed by brokers and their clients. We know that many SMEs are pushing on with their investment plans now that the uncertainty of the Budget has cleared, and these competitive rates will help set them up for success in the future.
“The combination of the rate reduction and our discount for larger commercial mortgages makes clear Atom bank’s commitment to this market. Whether it is pricing or improvements to our processes, we will continue to adapt our proposition wherever necessary to support the UK’s SMEs.”
