Atom Bank announces near prime rate cuts

February 26, 2026 by Brendan O'Neill

Lenders

Atom Bank has unveiled a number of reductions to the rates for products in its near prime range, with these focused on the 90% LTV loans.

The lender has cut the rates for all near prime remortgage and purchase loans with LTV of 90%. The reductions across the board are by 0.10%, which leaves them with a starting rate of 5.64%. It marks the second reduction in rates that Atom Bank has introduced for near prime mortgages since the start of this year. During the opening month of 2026, it cut the rates for the products with LTV of 85% by 0.10%.

Atom Bank has only been offering mortgages at 90% LTV since 2025, perhaps in recognition of how difficult the economic climate is for many would-be borrowers. Loans at that level of LTV require smaller deposits for borrowers to be eligible, but are higher risk.

Last year also saw the bank bring in two further tiers for mortgage fees; a £1,500 tier and a £1,995 tier. This was a reaction to feedback provided by mortgage advisors.

Atom Bank’s head of mortgages is Richard Harrison. Talking to Financial Reporter, he said that public demand for its near prime range has been on the rise since the start of the year.

He then went on to say:

“Given house price growth and the challenges in saving a deposit, high LTV lending is absolutely crucial, regardless of whether the borrower has a spotless credit record or not.”

That is an argument that those with CeMAP mortgage advisor training will agree with.