Atom Bank has been accredited to the latest iteration of the Recovery Loan Scheme (RLS) by the British Business Bank. The UK’s first app-based bank confirmed it will soon be accepting applications on its secured lending products. The RLS will give UK businesses access to finance that can be used for managing cash flow, investment, and growth. Through RLS, Atom Bank will offer secured loans from £250,000 up to £2m, via its network of more than 200 independent brokers across the UK.

Market Financial Solutions (MFS) and Arc & Co. have delivered a £2m buy-to-let mortgage to a client who needed help with multiple buy-to-let (BTL) investments. The portfolio consisted of 10 BTL properties including houses in rural areas, towns and cities. Arc & Co. worked with the client to create a strategy to present the case to MFS’s underwriters, and by running multiple affordability calculations, MFS saw that there were multiple exit strategies available to the borrower given the breadth of their BTL portfolio. Given these factors, along with the fact that most of the properties already had tenants, a loan of over £2m was issued at an LTV of circa 70%.

Tuscan Capital has announced the launch of a new base rate tracker option. The short-term property finance provider confirmed that the new option will be available across its 'fast track residential bridge’ loans, as well as its commercial and refurbishment loan products. Tuscan’s base rate tracker starts at 0.53% over the Bank of England’s base rate, has a minimum term of three months, a maximum LTV of 75%, and has no exit fees or early settlement penalties. The base rate tracker option compliments Tuscan’s existing range of fixed price products.

Newcastle Building Society has announced it is to increase its mortgage standard variable rate (SVR). Effective from 1 October, the society’s SVR for affected properties in England, Scotland, Wales and Northern Ireland will increase by 0.95% to 4.91%. Newcastle said the increase reflects a change in market conditions and lending costs, with the change will affect residential, self-build and buy-to-let customers with products linked to the lender’s SVR.

Mortgage and protection network, HLPartnership, has appointed Ian Pratt to help member firms through training and ongoing support to develop protection business alongside their primary mortgage proposition to clients. Pratt will join from Legal & General where he was involved in recruitment, sales and skills management and in the last six years as a strategic manager, responsible for running teams training and supporting appointed representatives across the UK’s networks. He joins former L&G colleague, Steve Fallon, who joined HLP last year to develop the network’s protection support for its members.

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