Atom bank, the UK’s first app-based bank, is today (22 November 2022) re-introducing a suite of Near Prime and Prime mortgage products with competitive rates.
Following a temporary withdrawal from the Near Prime market at the end of September, Atom is re-entering with a suite of two and five-year term products up to 85% LTV. Near Prime rates start from 6.49% and are available from today.
During these times of economic uncertainty, Atom hopes that the Near Prime products will support those customers who may have less than perfect credit but still aspire to own their own home.
In addition to re-entering the Near Prime market, Atom has also re- launched a full suite of Prime residential products across two and five-year terms up to 95% LTV.
Atom has launched the range of competitively priced products to help lower customers' monthly payments and support buyers who have faced increasing challenges, following a sharp increase in mortgage rates and a period of prolonged house price growth.
Atom’s biggest rate reduction sees its fee free 90% LTV five-year product reduced by 1.15% from 6.69% to 5.54%. Prime rates start from 5.14% and are available from today.
Richard Harrison, Head of Mortgages at Atom bank commented:
“We’re excited to be expanding our range of products by launching competitive Prime and Near Prime mortgage products across a broad range of LTV’s.
“The average house price has increased by nearly £50,000 over the last two years which, alongside increasing household costs, means it’s a challenging time to be buying a home. Our award-winning range caters for a broad range of borrowers, helping those looking to remortgage and reduce costs as well as people, some of whom may have less than perfect credit, on the journey to making home ownership a reality.
“We’re on a mission to make the experience of borrowing faster, easier and better value than anyone else in the market, and we look forward to working with our broker panel to develop our proposition even more in the coming months.”