Atom bank has announced a number of rate cuts by up to 0.15% across its residential mortgage range across its prime and near prime ranges. Rates now start from 4.69% on its prime range and 4.84% on its near prime range. The reductions come after Atom bank introduced a new £1,995 fee tier for its near prime range, following the introduction of a £1,500 tier earlier this year. The new fee tiers allow Aton to offer mortgage products at a wider range of price points.

Paragon Bank has appointed Simon Glass as its head of mortgage operations. As part of the new role, he will head up Paragon’s operations team with a focus on good customer outcomes, and will lead the bank’s buy-to-let underwriting, completions and customer relationship teams. Glass brings over 25 years of financial services experience, including 16 years working specifically in mortgages across a range of roles, including underwriting, mortgage adviser, business development manager and head of sales roles, in addition to leading a mortgage brokerage.

Recognise Bank has completed a £1.98m development exit loan to support a residential developer in Essex. The facility was arranged for Build With a View Limited, a developer with a track record of delivering schemes in and around Essex and Hertfordshire. The loan is secured against three newly built executive homes and allows the borrower to release capital to help fund the purchase of a new plot for a future scheme. The case was introduced by co-founder and director at Align Property Finance Limited, Patrick Coughlan, and was completed by Recognise Bank’s lending team to meet the borrower’s funding needs. The loan was completed at 75% LTV on a 12-month term.

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