Atom Bank has announced some welcome news for borrowers by cutting its mortgage rates, making it cheaper to get a home loan.

From today, both near prime and prime mortgages will be affected. This is what’s changing:

Near Prime Mortgages

• Two-year fixed rates: Reduced by 0.20% to a starting rate of 6.04%
• Three-year fixed rates: Reduced by 0.10% to a starting rate of 5.89%
• Five-year fixed rates: Reduced by 0.15% to a starting rate of 5.49%

Prime Mortgages

• Two-year fixed rates: Reduced by 0.15% to a starting rate of 5.39%
• Three-year fixed rates: Reduced by 0.10% to a starting rate of 5.19%
• Five-year fixed rates: Reduced by 0.10% to a starting rate of 4.94%

Richard Harrison, Head of Mortgages at Atom Bank, said the bank is committed to helping people achieve their dreams of homeownership. He added that these rate reductions will make it easier for even more borrowers to get on the property ladder.