At 8 am tomorrow (Thursday 1st September), Digital Mortgages by Atom bank is making the following changes to their Prime & Near Prime mortgage range:
Product rates & dates:
- Increasing all Prime 5-year rates by 0.36%.
- Withdrawing 85% and 90% LTV Retention and Further Advance products.*
- Increasing 95% LTV Retention and Further Advance rates by up to 1.06%.
- Increasing all Near Prime 2- and 5-year rates by up to 1.10%.
- Extending product end dates from 31st October to 30th November.
*Please note: These products are available for 95% LTV. They only have 0–95% LTV available across their Prime range for purchase, remortgage, retention only and further advance products.
Early Repayment Charge (ERC) structure
They are making changes to their ERC structure (these changes will be applicable for any new applications submitted from 1st September).
5-year product ERCs will be:
5% to 30/11/2024, 4% to 30/11/2025 and 3% to 30/11/2026, 2% to 30/11/2027
2-year product ERCs will be:
2% to 30/11/2023 and 1.5% to 30/11/2024
Standard Variable Rate (SVR) increase
They are also making changes to their SVR. The SVR will increase from 4.65% to 5.15%.
Please note: Their current rates will be available until 7:55 am tomorrow (Thursday 1st September) on MSO. Their website will be updated shortly after. And their outgoing products will be removed from sourcing systems COB Wednesday 31st August.
If you wish to secure a product with the current rates, a full mortgage application must be submitted before 7:55 am Thursday 1st September.