Atom bank has reduced pricing on its commercial mortgage range, with the largest discounts applying to loans of between £800,000 and £2 million.
The lender has also simplified its pricing structure by reducing the number of price points available for each product, a move intended to limit the potential for rates to change while an application is progressing.
Discounts of up to 0.70% are now available depending on loan size, with medium-sized loans between £800,000 and £2 million receiving the largest reductions.
COMMERCIAL MORTGAGE DISCOUNTS
Atom continues to offer discounts of up to 0.25% for properties with an EPC rating of B or above and for applications with 200% DSC or ICR coverage.
Commercial mortgage rates are priced individually according to the borrower’s circumstances, while brokers can obtain an indicative rate through the lender’s Quick Quote facility.
Atom has also extended its enhanced procuration fee until 31 March 2027. Brokers will receive a 1.75% fee on applications submitted before the deadline.
Chris Storey, chief commercial officer at Atom bank, says: “We are passionate about supporting SMEs and the brokers who work with them, and this raft of enhancements to our commercial proposition will help us do just that.
“We know that rate changes during an application are frustrating for both brokers and their clients. To fix this, we’ve simplified our pricing structure with fewer price points per product, meaning fewer rate movements and a smoother journey from application to completion.
“Borrowers will also benefit from even better value through a further rate discount on medium-sized loans, while we are recognising the outstanding work brokers do by extending our boosted procuration fee offer into next year.
“There are further improvements planned for the months ahead, as we look to improve the service, speed and value of our commercial lending products and help greater numbers of SMEs to achieve their ambitions.”
