The reductions apply to all of Atom’s two, three and five-year fixed rate Near Prime mortgage products.

This means rates for five-year fixed rate Near Prime products start at 5.24%, while three-year rates start at 5.44% and two-year rates begin from 5.59%.

Atom Bank head of mortgages Richard Harrison commented: “The financial strain of recent years means brokers are seeing greater numbers of clients who have experienced a temporary payment issue, and so fall within the near prime category.

“We are committed to providing these borrowers, including those with more modest deposits, with access to highly competitive mortgage products, which is why we move quickly to reduce rates whenever possible.”

Another lending announcing rate changes is TSB. For product transfer, residential two-year fixed 0-60%, 75-80% & 85-120% LTV rates have been reduced by up to 0.20%

Residential three-year fixed 0-60% & 75-85% LTV rates have been reduced by up to 0.20%; residential five-year fixed rates have been reduced by up to 0.20%.

Buy to let two-year fixed rates have reduced by up to 0.60% and buy to let five-year fixed 0-80% LTV rates have reduced by up to 0.25%

For additional borrowing, residential two and three year fixed 0-60% & 75-80% LTV rates have reduced by up to 0.20%.

Residential five -year fixed rates have reduced by 0.10% and buy to let two and five-year fixed rates have reduced by up to 0.25%