Atom bank has reintroduced a range of near prime and prime mortgage products.

Following a temporary withdrawal from the near prime market at the end of September, Atom, the UK’s first app-based bank, confirmed it is re-entering with a suite of two and five-year term products up to 85% LTV. Near prime rates will start from 6.49% and are available from today.

Atom said it hopes its near prime products will support those customers who may have less than perfect credit but still aspire to own their own home. 

As well as re-entering the near prime market, the bank has also relaunched a full suite of prime residential products across two and five-year terms up to 95% LTV. Atom revealed it was launching these products to help lower customers’ monthly payments and support buyers who have faced increasing challenges, following a sharp increase in mortgage rates and a period of prolonged house price growth.

Head of mortgages at Atom, Richard Harrison, commented: “We’re excited to be expanding our range of products by launching competitive prime and near prime mortgage products across a broad range of LTVs.

“The average house price has increased by nearly £50,000 over the last two years which, alongside increasing household costs, means it’s a challenging time to be buying a home.

“We’re on a mission to make the experience of borrowing faster, easier and better value than anyone else in the market, and we look forward to working with our broker panel to develop our proposition even more in the coming months.”

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