Atom Bank has reduced rates on its commercial investment fixed rate mortgages.
The cuts vary in size based on the LTV product band, with loans less than 45% LTV down by 0.11%, 45-50% LTV reduced by 0.17%, 50-55% LTV down by 0.19%, 55-60% LTV by 0.25%, 60-70% LTV by 0.33%, and 70-85% LTV by 0.40%.
As a result of the reductions, fixed rate products now start at 5.92% and a further discount of 0.25% is available on all loans between £1m and £4m.
Atom’s range of commercial investment mortgage products are designed to support those looking to purchase or refinance commercial property which is then let to tenants, such as offices, retail, industrial or healthcare spaces.
The reduced rates follow on from the app-based bank introducing a simplified variable stressed interest rate calculation, which will allow eligible business borrowers to access larger loan amounts.
Atom Bank provides business borrowers with bespoke pricing, using the borrower’s individual circumstances to calculate a personalised rate.
Tom Renwick, head of business lending at Atom Bank, commented: “I have no doubt that brokers and their clients will welcome these rate reductions which provide businesses with even more competitively-priced options. Atom Bank is committed to supporting businesses take the next step, and will continue to improve our proposition wherever possible, as demonstrated by both these rate cuts and the recent introduction of simplified stressed interest rate calculations.
“Just as important as delivering great value is providing outstanding service, and we continue to win praise from brokers for our exceptional turnaround speeds. The combination of great value and speedy service is why so many brokers are introducing their business clients to Atom.”
