Atom bank has reduced rates on its near prime and prime ranges by up to 0.15% and 0.20% respectively. For the app-only bank’s near prime products, two-year fixes have been reduced by 0.20%, while three- and five-year fixes have been cut by 0.10% and 0.15% respectively. As a result, two-year fixed rates start from 6.04%, three-year fixes begin at 5.89% and five-year fixes start at 5.49%. On Atom’s prime range, two-year fixed rate products have been cut by 0.15% and now start from 5.39%. Meanwhile, its three- and five-year fixes have been reduced by 0.10% and start from 5.19% and 4.94% respectively.

Rob Hanks has been appointed as product manager at Target Group, the latest appointment by the firm in order to form its originations team, Mortgage Hub. The team now stands at 12, with Hanks joining experts including Alastair Knowles, Shruti Kamble and Alastair Macdonald. Hanks, who joins from Capita Mortgages Software Solutions, brings over 25 years of experience in the mortgage origination software field, having supported and led systems development for a mix of start-ups and lenders including HSBC and Tesco Bank. He will provide strategic direction for Mortgage Hub, which aims to improve the overall experience for all involved in the mortgage process.

MPowered Mortgages has reduced rates once again across its mortgage range, making cuts to its 80% LTV products. Rates across the lender’s 80% LTV two- and three-year fixed rates have been reduced by 0.49% and now start from 4.75% with a £999 purchase. On its remortgage rates, three-year products start from 4.98%, also with a £999 fee. Additionally, three-year low LTV rates have been cut by up to 0.08%, with three-year £999 fee purchase rates now start from 4.39%, while zero fee rates start from 4.64%. Five-year purchase rates have also been cut, with five-year £999 purchase rates being reduced by 0.17%.

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