Atom bank has reduced the rates on its commercial mortgage range by up to 0.76%, with immediate effect.

The app-only bank’s variable rates have been cut by up to 0.76%, while fixed rates have fallen by up to 0.73%, with the largest reductions applying to higher loan-to-values (LTVs).

Representative examples of the rates on offer for cases of the highest credit quality at 75% include a variable rate of 2.89% and a fixed rate of 7.36%.

Meanwhile, representative rates on 45% LTV include variable rates of 2.06% and a fixed rate of 6.43%.

In addition, Atom bank is also currently offering a rate discount on large commercial mortgages.

Those borrowing between £1m and £4m qualify for a rate discount of 0.25%.

The rate discount applies to all applications submitted before midnight on 29 November.

Atom bank head of business lending Tom Renwick says: “I have no doubt that this latest rate cut on our commercial mortgage range will be welcomed by brokers and their clients. We know that many SMEs are pushing on with their investment plans now that the uncertainty of the Budget has cleared, and these competitive rates will help set them up for success in the future.”

“The combination of the rate reduction and our discount for larger commercial mortgages makes clear Atom bank’s commitment to this market. Whether it is pricing or improvements to our processes, we will continue to adapt our proposition wherever necessary to support the UK’s SMEs.”