Atom bank has reduced the rates across its range of fixed and variable commercial mortgages.
Fixed rates have been reduced by up to 47 basis points (bps), while variable rates have fallen by up to 41bps.
The rate reductions take effect immediately.
As a result of the cuts, variable rates now start at 1.65% over base rate, and fixed rates start at 6.23%.
In addition, loans of between £1m and £4m qualify for a further 25bps reduction. Variable rate loans that fall within this range could start from 1.40% over base rate and 5.97% on a fixed rate.
David Castling, head of intermediary distribution at Atom bank, said: “Atom bank is passionate about providing the best possible value to business borrowers, so I have no doubt that this rate cut across our fixed and variable products will be welcome.
“There will be businesses up and down the country looking to kick on with their growth ambitions for the year ahead, and this rate reduction will make external funding more accessible for them. Just as important is recognising that all businesses are different and providing that flexibility when assessing an application.
“We know that brokers value the fact that Atom bank provides pricing tailored to the individual borrower, rather than employing a ‘one size fits all’ approach.”
