Digital lender Atom Bank has initiated significant changes to its commercial mortgage offerings, decreasing rates by up to 0.76%.
- The new variable rate reductions reach up to 0.76%, while fixed rates see a decrease of up to 0.73%.
- A special rate discount of 0.25% is available for large commercial loans ranging from £1 million to £4 million.
- These changes are designed to aid SMEs in their investment endeavours following the recent Budget clarity.
- The adjustments reflect Atom Bank’s commitment to supporting the SME sector with competitive pricing.
In a move set to positively impact small and medium-sized enterprises (SMEs), Atom Bank has announced a reduction in its commercial mortgage rates. This strategic decision involves a cut of up to 0.76% on variable rates and a 0.73% decrease on fixed rates. These adjustments are applicable immediately, aligning with Atom Bank’s aim to provide more accessible financing options.
The bank is further incentivising larger commercial borrowings. A notable rate discount of 0.25% is being offered to clients seeking loans between £1 million and £4 million. This offer, however, is time-sensitive and will only apply to applications submitted by midnight on Friday, 29th November.
Tom Renwick, head of business lending at Atom Bank, has expressed confidence in these rate cuts. He acknowledged the need for such measures as SMEs advance their investment strategies post-Budget. Renwick stated, “I have no doubt that this latest rate cut on our commercial mortgage range will be welcomed by brokers and their clients.”
Atom Bank’s strategy extends beyond just rate reductions. The bank’s approach shows its dedication to continually adapting its offerings to meet the dynamic needs of UK SMEs, ensuring both competitive pricing and progressive service improvements. Atom Bank remains committed to supporting the commercial sector, especially as businesses look for stability and growth opportunities in a rapidly changing economic landscape.
Atom Bank’s strategic rate cuts are a definitive step towards enhancing support for SMEs in the commercial mortgage arena.
