Atom bank has reduced rates on its prime products by up to 0.25%. The digital bank has cut the cost of its higher LTV products, with 80%, 85%, 90% and 95% LTV three-year fixed rate mortgages reduced by up to 0.25%, with rates starting from 4.89%. Atom bank has also reduced its two-year fixed rates at 90% and 95% LTV by up to 0.20%, and five-year fixed rates have been reduced by 0.15%, starting from 5.19% and 4.54% respectively. All these products come with a free valuation and remortgage products feature fee-assisted legals.

Pluto Finance has announced the successful closure of a residential development loan to support a new housing development, Felsted Gate, in North West Essex. The firm provided a revolving peak debt facility to the developer, Mulberry Homes, allowing the company to minimise financing costs as well as providing flexibility to allow delivery to be sped up or slowed down. The structure underlines Pluto Finance’s expertise in the sector as well as the company’s commitment to established housebuilders and developers. The facility follows on from successful loans to housebuilders in 2023 of £12m in Salcombe and £10m in Somerset.

Suffolk Building Society has reduced rates across its 95% LTV residential and its five-year expat buy-to-let (BTL) mortgage products. The lender’s 95% LTV two- and three-year residential products have been reduced by 26 bps to 5.89%, with a minimum loan of £75,000 and a maximum loan of £500,000, with a £199 application fee and £999 completion fee. The five-year expat BTL product has reduced by 14 bps to 5.95%, which is available up to 80% LTV with a maximum loan of £1m, an application fee of £199 and a £1,499 completion fee. Both products are available for purchase and remortgage on a capital and interest basis.

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