Atom Bank has announced a significant reduction in its commercial mortgage rates. The new rates are now pegged more closely to the base rate, ensuring more competitive loans for business owners.

• For Trading Businesses: Loans are now available from 2.89% above the base rate for those borrowing at 60% loan-to-value (LTV) ratios, and an even lower 2.59% for loans at 50% LTV.
• Commercial Property Investments: Rates start at 2.84% above the base rate for 60% LTV and 2.54% for 50% LTV loans.
• General Reduction: Across the board, the bank has lowered its variable rates, with offers starting from 2.08% above the base rate for loans at 45% LTV.

This pricing revision is effective immediately, providing a timely opportunity for businesses to secure funding under more favorable terms.

Why This Matters for Small Businesses

Tom Renwick, the Head of Business Lending at Atom Bank, underscored the bank’s commitment to supporting small businesses, especially in light of changing economic conditions, “Atom bank is a dedicated supporter of small businesses, so as the cost of funds have changed it is important to reflect that in our variable rate pricing. With inflation continuing to fall, and speculation growing around potential base rate reductions, variable rates will continue to hold an appeal for business borrowers. However, while price is a crucial factor for brokers and their small and medium enterprise (SME) clients, so too is speed. Business borrowers need to know where they stand as quickly as possible, which is why Atom bank has made a significant number of improvements to our broker portal over the last year, ensuring that on average we are able to issue an Agreement in Principle in just one working day after receiving a fully packaged application.”