Atom Bank cuts rates and Clydesdale waives valuation fees on first-time buyer mortgages

Atom Bank has launched a new range of fixed rate mortgages and has cut rates, while Clydesdale Bank is waiving valuation fees for first-time buyers for a limited period.

With the aim of continually improving the range of products they offer, Atom Bank has just launched a two-year fixed rate loan at 1.29% at 75% loan-to-value (LTV) with a £900 fee. The loan is available for purchase and remortgage.

Other new deals from the online bank include: a two-year fixed rate at 1.59% mortgage at 60% LTV, a five-year fixed rate at 2.24% at 75% LTV and a five-year fixed rate at 2.14% and 80% LTV with £900 fee.

From this week, Clydesdale Bank is offering first-time buyers the added incentive of free valuations on its products.

The bank’s first-time buyer mortgage deals include a two-year fixed loan at 95% LTV at 3.59% (reduced from 3.69%) and a three-year fixed rate deal at 90% LTV at a rate of 2.89%.

A three-year fixed rate mortgage at 3.99% at 90% LTV is also available to first-time buyers from Clydesdale Bank and the lender has confirmed that there are no arrangement or valuation fees for these products.

The bank is willing to lend up to five times a mortgage applicant’s income. This is dependent, however, on overall affordability taking into account higher LTVs and loan sizes, enabling brokers to serve a wide range of customers.


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