For a limited time, all new Atom Bank mortgage customers will be able to apply for a five-year mortgage at the two-year rate, via one of the bank’s intermediary partners.

Rate decreases across all five-year LTV bands will match the two-year rates as follows:

• 60% LTV with £900 fee: reduced by 0.60% to 1.29%
• 60% LTV without fee: reduced by 0.35% to 1.64%
• 75% LTV with £900 fee: reduced by 0.65% to 1.34%
• 75% LTV without fee: reduced by 0.45% to 1.74%
• 80% LTV with £900 fee: reduced by 0.60% to 1.49%
• 80% LTV without fee: reduced by 0.40% to 1.89%
• 85% LTV with £900 fee: reduced by 0.65% to 1.59%
• 85% LTV without fee: reduced by 0.45% to 1.99%
• 90% LTV with £900 fee: reduced by 0.80% to 1.99%
• 90% LTV without fee: reduced by 0.55% to 2.44%

Products will be available via intermediary sourcing systems or via the online portal on residential.digitalmortgages.net.

Maria Harris, Atom Bank’s director of retail mortgages, said: “This move is entirely unprecedented, but we know consumers have an appetite for it. The recent success of our disruptive savings pricing has taught us that. We are in a position where we can help people improve their financial situation for the long term by reducing the amount they have to pay on their mortgage.

“Moving your mortgage to a better rate can be one of the most significant savings that a customer can make.  Since the financial crisis, a lot of people have stayed on their lender’s SVR (standard variable rate), but there’s a big difference between the average SVR and the rates we’re offering, so being able to lock the rate in for five-years gives certainty around the mortgage payment while we go through a period of uncertainty – Brexit negotiations being worked through, the impact of inflation, and any Base Rate increases which may come along.

“We remain fully committed to only providing mortgage products through intermediaries.  It’s important to us that a customer has received proper independent financial advice, ensuring they get the right mortgage – and that is not always just about the rate.  Our ultimate aim is to help people get what’s right for them, while having the best experience along the way, and our intermediary partners are crucial to helping us deliver this.”