Atom bank has confirmed cuts to its Near Prime mortgages available to borrowers with small deposits.

All products available at 90% loan-to-value (LTV), for both purchase and remortgage, have been reduced by 0.10%, with the cuts applying from 19th February).

As a result of the reductions, 90% LTV Near Prime products now start at 5.64% for eligible customers.

This reduction to Near Prime rates follows on the heels of a 0.10% reduction to products available up to 85% LTV in January.

Atom bank has also launched the Near Prime Index, which digs into the state of the market for borrowers with some level of adverse credit, and brings together economic analysis, Atom bank’s own data and broker views on challenges and opportunities for their Near Prime clients.

April Mortgages has also announced cuts to its remortgage and purchase products. New rates include, for five-year remortgage 60% LTV a rate of 5.20%; for five-year remo 80% LTV a rate of 5.25% and a five-year remo 90% LTV, a rate of 5.45%.

Also, for 10-year remortgage 60% LTV a rate of 5.45%; a 10-year remo at 80% LTV with a rate of 5.50%; and a 10-year remo 90% LTV with a rate of 5.70%.

For home purchase, April’s new rates include; for a five-year 60% LTV the rate is 4.90%; for a five-year 80% LTV the rate is 5%; and for a five-year 95% LTV the rate is 5.40%.

April is also offering a 10-year 60% LTV with a rate of 5.25%; a 90% LTV with a rate of 5.55% and a 100% LTV with a rate of 6.13%.

All new rates are available immediately.