Atom bank has reduced rates across both its Near Prime and Prime product ranges.

Rates on Atom bank’s Prime range of two, three and five year fixed rates, available up to 90% loan to value (LTV), have been cut by 20 basis points (bps).

All Prime mortgages available up to 95% LTV have been reduced by 10bps.

Earlier this year, Atom bank increased the maximum LTI achievable on loans of up to 90% LTV to six times income, for applicants with incomes of £75,000 or over. For applicants with that income looking to borrow at 95% LTV, Atom bank will lend up to 5.5 times the income.

Alongside the LTI improvements, Atom also increased the maximum LTV available on properties in London and the South East. The maximum LTV rose from 90% to 95% for both existing flats and new-build houses, and from 80% to 90% for new-build flats.

In addition, Atom bank has announced a host of cuts to its Near Prime product range.

Two and three-year fixed rates at 60% and 75% LTV have been reduced by 20bps. The bank’s five-year fixed rates, available at those same LTV bands, have been cut by 15bps.

Richard Harrison (pictured), head of mortgages at Atom bank, said: “We are delighted to announce our second batch of rate cuts this month. Our continued focus on price demonstrates how determined Atom bank is to going further in providing tangible support to those who need it most, but who are not being adequately served by many high street mortgage lenders.

“The combination of rate cuts and ongoing criteria improvements, which have often led the way in the market, are making a tangible difference to brokers and their clients and we will continue to make changes wherever necessary to ensure we remain the go-to choice for intermediaries.”