Atom bank has completed a £1.06m commercial mortgage in Scotland. The client wanted to refinance an existing commercial mortgage held against a restaurant in Edinburgh, as well as raise funds for a further investment purchase. The broker, Scott Cowans, who is director at Veritas Property Finance, brought the case to Atom bank, as he believed the bank could offer a better rate than the existing lender. Atom was able to provide a loan of £1.06m at a rate of 6.96% across a five-year commitment term at an LTV of 62%.

Coventry Building Society has cut selected residential two-, three and five-year fixed rates by up to 28 bps, with reductions available between 65% to 95% LTV for new and existing customers. Highlights include a 5.05% two-year fix at 65% LTV with a £999 product fee, available for residential remortgage, with an option of £350 cashback, as well as a 5.39% two-year fix at 80% with no product fee and £500 cashback, available for first-time buyers.

Mortgage Brain has partnered with The Mortgage Works to host a free buy-to-let (BTL) masterclass. Taking place on 18 June 2024, the online session aims to give brokers insight into the private rental sector, with focus on BTL lending for limited company landlords. Despite a fall in the number of rental properties being bought in 2023, the number of limited companies created to hold BTL properties has continued to rise to a record high of 50,004. In the class, there will be an overview of key trends, such as current and proposed Government regulations and potential impacts, and what is behind the rise in limited company BTLs.

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