Atom bank has made rate reductions across its near prime and prime product ranges, effective today (24th July).

The lender has lowered rates by up to 0.20% across the bank’s near prime range and by up to 0.15% across its prime range.

For near prime, two-year fixed rates are being reduced by 0.20%, while three-year fixed rates and five-year fixed rates are being lowered by 0.10% and 0.15% respectively.

Two-year fixed rates start at 6.04%, three-year fixed rates start at 5.89% and five-year fixed rates start at 5.49%.

For prime, two-year fixed rates are being reduced by 0.15%, while three-year fixed rates and five-year fixed rates are being cut by 0.10%.

This means that two-year fixed rates start at 5.39%, three-year fixed rates start at 5.19% and five-year fixed rates start at 4.94%.

Atom bank head of mortgages Richard Harrison says: “We are pleased to announce rate reductions across both our core product ranges to help more borrowers achieve their home ownership aspirations.”