Atom has just announced a significant rate cut on its Prime mortgage range for residential customers. This is not just a one-time thing; it’s the eighth time they’ve done this since August 2023.

Atom bank, known for its innovative app-based banking system, has made a bold move by reducing both low and high Loan-to-Value (LTV) rates by up to 0.30%. This is a big deal because it means cheaper borrowing costs for homebuyers and those looking to remortgage.

Specific Rate Changes

• 5-Year Fixed Rates: For a mortgage with a 60% LTV, the rate is now starting at just 4.84%. And if you’re looking at a 95% LTV, the rate is 5.34%.
• 2-Year Fixed Rate: There’s even more good news if you’re considering a shorter 2-year fix at 95% LTV – it’s now under 6.00%, at 5.99% to be exact!

More Affordable Mortgages

These rate cuts could mean lower monthly payments for you, making your dream home more affordable or freeing up some cash for other expenses or savings.

Added Perks

To sweeten the deal, all the reduced-rate products come with a free valuation. Plus, if you’re remortgaging, Atom bank offers fee-assisted legal services. This means less money out of your pocket during the mortgage process.

What Atom Says About This

Richard Harrison, the head of mortgages at Atom bank, sheds some light on this decision. Despite the market slowing down a bit as we approach Christmas, Atom bank is keen on passing on value to customers promptly. This rate cut is their way of showing commitment to their customers’ needs, making it easier and more affordable to secure a mortgage.