You are here: Home - Mortgages - First Time Buyer - News -

Atom Bank pulls five-year 1.29% fixed rate mortgage

0
Written by:
19/04/2017
Atom Bank is pulling its five-year fixed rate mortgage priced at 1.29%, just seven days after launching the promotion.  

The challenger bank dramatically cut rates on its five-year loans on 12 April, bringing them in line with its two-year deals.

Following ‘huge demand’, it is withdrawing the 60% LTV deal, which cost 1.29% with a £900 fee or 1.64% without a fee, from midnight tonight.

Katy Ringsdore, head of PR at Atom, said: “Digital Mortgages by Atom bank has seen huge demand for our market-leading five-year fixed rate mortgages and as a result we will be withdrawing the 60% LTV five-year fixed products at 0.01am on Thursday 20 April. Our rates, like everyone else’s, are continuously under review and subject to change.

“Customers who apply for the previous rate before midnight Thursday 20 April and have their application accepted, will of course be able to continue with their mortgage process under the rate.”

Borrowers with smaller deposits can still get a five-year deal for the same price as the two-year rate.

Those with a 25% deposit will pay 1.34% with a £900 fee or 1.74% without a fee, while someone with a 10% deposit will pay 1.99% with a £900 fee and 2.44% without a fee.

LTV Fee 2 year rate 5 year rate
60% With £900 fee 1.29% n/a*
60% Without fee 1.64% n/a*
75% With £900 fee 1.34% 1.34%
75% Without fee 1.74% 1.74%
80% With £900 fee 1.49% 1.49%
80% Without fee 1.89% 1.89%
85% With £900 fee 1.59% 1.59%
85% Without fee 1.99% 1.99%
90% With £900 fee 1.99% 1.99%
90% Without fee 2.44% 2.44%

*rates removed as of 00.01am on Thursday 20 April 2017

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

After an award-winning health insurance provider?

Winner of best online health care provider in the YourMoney.com Awards 2015

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week