Atom bank has announced a fresh round of mortgage rate cuts, reducing prices across its prime and selected near-prime ranges by 0.10%.

The move follows reductions of up to 0.15% in August and means that prime rates now start from 4.84%, while near-prime products begin at 5.04%. The cuts apply immediately.

For near-prime borrowers, two, three and five-year products with a £1,500 fee, along with two-year £900 fee and fee-free options, have all been reduced by 0.10%. Across the prime range, two, three and five-year purchase, remortgage, further advance and retention products have also been cut by the same margin.

The bank has repeatedly lowered rates this year across its residential mortgage portfolio and expanded its product offering to appeal to a wider group of borrowers, including those with less-than-perfect credit histories.

Recent enhancements include the launch of a new tier of near-prime products carrying a £1,500 fee, which the bank says has already generated significant uptake, and an increase in maximum loan-to-value on near-prime mortgages to 90%.

Richard Harrison, head of mortgages at Atom bank, said: “I’m delighted that we have been able to introduce another round of cuts. Our frequent rate reductions this year demonstrate how committed we are to providing brokers and their clients with outstanding value. Crucially, this focus extends to borrowers with imperfect credit scores, with selected near-prime products also being reduced.

“Just as important as headline rates is the breadth of options open to borrowers, which is why we have introduced a greater selection of mortgages at different product fees. The combination of price, choice and market-leading speed is why so many brokers are turning to Atom bank.”