Atom Bank is set to reduce rates across its fixed rate commercial mortgage products by up to 0.75%, effective 30 May.

At up to 60% LTV prices start at 3.97% and at up to 75% LTV, rates begin at 4.50%.

The lender says the offer is in place to help ease the pressure on small- and medium-sized businesses (SMEs) who are grappling with the rising base rate and increasing inflation.

Atom’s fixed-rate products are available between two and six years, with amortisation profiles up to 25 years. These are available in interest only, capital and interest option variants.

Commenting on the reduction, Atom Bank head of business banking Tom Renwick says: “Broker feedback has shown that there is an increasing need for commercial mortgages with a fixed rate during what is a particularly turbulent time for businesses.”

“A fixed rate loan provides businesses with greater certainty over their loan repayments in the face of rising business costs and the Bank of England base rate surging to its highest in over a decade. With the prospect of further hikes in the base rate, we feel now is absolutely the right time for us to cut our rates on commercial products,” Renwick adds.