Atom bank has reduced rates across its range of Prime mortgage products by up to 0.25%.
The lender said rates on products available up to 85% loan-to-value (LTV) have been cut by 0.20%, while those at 90% LTV have fallen by 0.25%. Products at 95% LTV have been reduced by 0.10%.
The changes take immediate effect, with Prime rates now starting from 5.29% for borrowers with at least a 15% deposit, subject to eligibility and LTV restrictions.
Atom bank’s Prime mortgage range includes 2-year, 3-year and 5-year fixed-rate options, available in both fee-free and fee-assisted variants.
The latest reductions follow cuts of 0.20% introduced to the lender’s Near Prime mortgage range earlier this month.
Atom said the repricing reflects recent improvements in swap markets and its continued focus on maintaining competitive products for borrowers looking to purchase or remortgage.
The lender added that brokers and their clients also benefit from application processing times, with full mortgage applications moving to offer in an average of three working days in March.
Richard Harrison, head of mortgages at Atom bank, said: “We are pleased to be able to follow our Near Prime rate cuts with reductions across our Prime product range.
“Across the bank we are committed to delivering outstanding value and service to borrowers, irrespective of whether they have a spotless credit record or the odd blip.
“After the recent turbulence, we are seeing a period of relative stability in swap markets and are moving quickly to ensure brokers and their clients benefit from more competitive rates.
“By reducing rates on our Prime range, we’re providing a compelling range of options for all borrowers, underpinned by the speed and certainty that defines the Atom bank experience.”