Atom has cut fixed-rate loans across a raft of commercial mortgages, including large deals, by up to 68 basis points.
The app-based bank says it will cut rates across its non-government guaranteed commercial range by up to 68bps.
It adds that commercial mortgages of between £2m and £4m will see rates cut by up to 25bps.
The reductions come after Atom last month increased the maximum loan-to-value available on large commercial mortgages.
The firm’s mortgages of up to £5m are now available up to a maximum of 75% LTV against the market valuation.
Brokers can obtain an indicative quote using the ‘Quick Quote’ tool on the bank’s adviser portal, while is adds that commercial customers benefit from bespoke prices, based on their circumstances.
The lender’s portal allows brokers to instruct a valuation for the case at any point up to the issuing of an approval in principle. The firm says that taking advantage of this option can reduce the time from offer to completion by as much as seven weeks.
Atom head of business lending Tom Renwick says: “The cuts on large commercial mortgages, combined with our recent increase to the maximum loan to values available, have been done on the back of a wider appetite for larger loans and we are keen to unlock finance for borrowers at higher debt levels.
“We know that cost is only one element in delivering for commercial brokers and their clients, which is why we continue to introduce improvements to our processes which mean we can deliver a smooth and speedy service.
“As a result of the ongoing improvements we are making, we are providing an offer within 14 working days on average for fully packaged applications.”
