Atom bank has reduced rates across its Prime mortgage range.

Rates have been reduced by 0.15% across the Prime mortgage range, following cuts of 0.15% in the middle of June.

Rates now start at 5.14% for two- and three-year fixed rates at up to 85% LTV, with a £900 product fee, while five-year fixed rates start at 5.19%.

The latest Prime rate reductions follow Atom bank’s introduction this week of Near Prime products at 95% LTV, alongside a rate cut of 0.10% on its existing range of Near Prime mortgages.

Atom bank head of mortgages Richard Harrison says: “Reducing our Prime rates twice within just a couple of weeks is a great example of our determination to provide great value to brokers and borrowers.”

“Enhancing our Prime range in this way, just days after launching our 95% LTV Near Prime proposition, highlights our ability to support a wide range of borrowers. We will continue to combine that innovative spirit with great rates and the market-leading speeds for which we have become known.”

Foundation has announced the reintroduction of its F1 £4£ Remortgage Only product and rate reductions across residential and buy-to-let (BTL) product transfers.

Foundation has relaunched its F1 £4£ Remortgage Only two-year fixed at 75% LTV, available at 3.99% with a 4% fee.

The product also includes a free standard valuation and no application fee.

As there is no additional borrowing on this product, affordability is assessed at pay rate with an ICR for all applicants of 125%.

Foundation has also reduced rates by up to 0.25% across its residential and BTL product transfer ranges.

Foundation director of sales Grant Hendry comments: “Bringing back our F1 £4£ Remortgage Only 2-Year Fixed product is an important enhancement that reflects the reality of today’s market.”

“The product is designed to provide a practical solution for landlords looking to refinance and not only offers a great 2-year rate, but also a range of benefits – from the assessment of affordability through to the fee-assisted incentives reducing upfront re-mortgage costs.”

Elsewhere, HSBC has said it will be making a number of reductions across its residential and BTL mortgage rates, effective tomorrow.

However, the lender never gives brokers advance notice of what the new rates will be and the new prices will be available tomorrow.

Coventry for intermediaries will be closing all fixed rates at 65% and 85% LTV, excluding offset and interest only offset.