Atom bank has reduced rates on its near prime residential mortgage range.

Products available at between 60% and 85% LTV, for both purchase and remortgage cases, have been cut by 0.10%. For those looking to borrow at 90% LTV, the rates have been reduced by 0.15%.

The cuts apply to all of Atom bank’s two, three and five-year fixed rate near prime mortgage products.

As a result, rates start at 5.14% for five-year fixed rates, while three-year rates begin at 5.34% and two-year fixed rates are available from 5.49%.

Atom bank’s head of mortgages Richard Harrison commented: “We have seen market pricing fall over recent weeks and we are responding to this by reducing the rate to ensure we continue to offer great value products.”