Atom bank has cut its 90% and 95% loan to value (LTV) mortgage rates by up to 0.3 percentage points.

The bank is also updating its existing offering for 85% LTV mortgages to make them more accessible for customers.

The bank says its reduced rates will support the anticipated surge in demand of those looking to move home before the stamp duty holiday threshold starts to taper this month, before ending on 30 September.

Changes to each mortgage rate are as follows:

95% LTV rate reductions:

• 2-year fixed rates will be reduced by up to 0.20 percentage points and 5-year fixed rates will be reduced by up to 0.15 percentage points

90% LTV rate reductions:

• 2-year fixed rates will be reduced by up to 0.3 percentage points and 5-year fixed rates will be reduced by up to 0.25 percentage points. The minimum loan amount will be reduced from £145k to £100k.

New 85% LTV product options and rate reductions:

• Atom is introducing new 85% LTV products for purchase and remortgage customers, as well as also reducing the rates of its existing 85% LTV products.

The following criteria applies:

• Minimum loan of £100k
• Maximum loan of £750k

Cashback options will also be available.

Paul Elliott, head of mortgages at Atom bank, said: “We’re delighted to be offering truly competitive rates on our LTV mortgage packages, to help home buyers ahead of the fast-approaching stamp duty cost increase.

“We are proud that we can help both first time buyers and those wishing to move, ensuring that our valued customers are getting great rates, on what for many, will be their first mortgage.”