Atom bank is cutting the interest rates charged on its range of commercial mortgages by up to 0.61%.

The changes will see variable rates start at 2.04% over base rate, while fixed rates start at 6.25% for loans with a maximum loan to value (LTV) of 45%.

Atom bank’s range of commercial products include Business Banking Secured Loans (BBLS) and Recovery Loan Scheme (RLS) products. The bank will be closing for new RLS applications from midnight Tuesday 28 May.

The rate cuts are on a temporary basis so will only apply until this date.

Tom Renwick (pictured), head of business lending at Atom bank, said: “We know how crucial price is for commercial customers at the moment, which is why we are delighted to be able to make further reductions to our commercial mortgage rates. With the RLS coming to an end next month, in particular we want to ensure that businesses are able to take advantage at the best possible rates on this product.

“Atom bank is passionate about combining our efficient digital model with fair, bespoke pricing in order to deliver the support that SMEs across the country need. This temporary price cut is just the first in a series of propositional changes we are making which will ensure we continue to stand out from the crowd in delivering for the wide range of commercial borrowers who are currently underserved by high street banks.”