Atom bank has reduced rates across its near prime residential mortgage range. The reductions will allow Atom to deliver better value to borrowers who may suffered a temporary credit issue in the past. As a result, rates at 85% LTV on its near prime range start from 5.69% on its two-year fix, while three and five-year rates start from 5.54% and 5.34% respectively. The range includes fee-free mortgage products, as well as those with an arrangement fee of £900.

Landbay has cut rates by up to 0.40% across its buy-to-let (BTL) product range. The headline range comes as part of the lender’s large HMO/MUFB range, with rates now starting at 5.89% for a five-year fix at up to 75% LTV with a 5% fee, while the 3% fee product starts from 6.29%. On small HMO products, rates start from 6.59% at up to 80% LTV with a 3% fee. Landbay’s standard five-year six at 80% LTV starts at 6.39% with a 3% fee.

Offa has widened its criteria required for customers to obtain BTL finance. The Sharia-compliant finance fintech will now accept first-time buyers to its offering, while the minimum age required being lowered to 18 years old. Furthermore, BTL applicants will only need to earn £18,000 per annum, while Offa has also simplified the way in which affordability is assessed, so that customers with terms under five years pay the standard rate plus 1%, while those with terms of five years or more pay the standard rate.

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