Atom bank is reducing the interest rates charged on its range of commercial mortgages by up to 0.61%.
The changes will see variable rates start at 2.04% over base rate, while fixed rates start at 6.25% for loans with a maximum loan-to-value of 45%.
Atom bank’s range of commercial products include business banking secured loans (BBLS) and recovery loan scheme (RLS) products. Atom bank will be closing for new RLS applications from midnight Tuesday 28th May.
The rate cuts, which see a noticeable decrease in RLS pricing specifically, are on a temporary basis, so will only apply until this date.
Atom bank head of business lending Tom Renwick commented: “We know how crucial price is for commercial customers at the moment, which is why we are delighted to be able to make further reductions to our commercial mortgage rates. With the RLS coming to an end next month, in particular we want to ensure that businesses are able to take advantage at the best possible rates on this product.”
