Atom bank says its variable rate commercial mortgages now start at 2.08% above base rate for loans at 45% loan to value.  

The app-only lender adds that fixed-rate commercial mortgages begin at 6.20%.  

The firm says it offers commercial mortgages up to 75% LTV for loan sizes up to £1m, while larger loans of more than £1m range up to 70% LTV.   

It also sells business banking secured loans and recovery loan scheme products, adding that it has made over 170 upgrades to its broker portal to increase the speed of its application process.  

Atom bank head of business lending Tom Renwick says: “With inflation continuing to fall, and speculation growing around potential base rate reductions, variable rates will continue to hold an appeal for business borrowers.  

“However, while price is a crucial factor for brokers and their small- and medium-sized clients, so too is speed.   

“Business borrowers need to know where they stand as quickly as possible, which is why Atom bank has made a significant number of improvements to our broker portal over the last year, ensuring that on average we are able to issue an agreement in principle in just one working day after receiving a fully packaged application.”