Perenna has announced rate cuts of up to 21bps across its recently-launched five-year fixed mortgages.

The new pricing includes purchase mortgages at 4.53% to 60% LTV with a £995 fee and 4.89% at 95% LTV with a £995 fee.

Perenna chief operating officer Colin Bell said: “Perenna will do everything we can to deliver viable products for consumers wanting to take full advantage of the benefits that long-term fixes provide.

“We will continue to move into areas of the market where we see opportunity to deliver innovation– improving access, getting families onto the ladder, and raising the health of the wider mortgage ecosystem through product diversity.”

Meanwhile, Atom Bank has announced rate cuts to its near prime mortgage range.The lender has cut rates by 10bps on its near prime homeloans to 85% LTV, now starting from 4.74%.

Atom Bank head of mortgages Richard Harrison said: “Near prime can no longer be viewed as a niche within the mortgage market. The challenges of recent years have resulted in temporary payment issues for some households, but with those troubles now behind them they need an understanding approach from mortgage lenders.

“We have looked to pass on rate cuts whenever we can, as we are determined to ensure brokers and their clients have access to a broad range of competitively priced near prime products. We will continue to identify ways in which our near prime proposition can be further enhanced across the year ahead as we continue to build our reputation for ease, speed and value in this space.”

Most brokers have seen a rise in near prime enquiries during 2025, according to a poll by Atom Bank.