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Atom bank ups max LTV on £5million commercial mortgages

Atom bank has increased the maximum loan-to-value to 75% available for large commercial mortgages of up to £5 million.

The bank said it expects this change to impact a significant portion of its applicants.

Tom Renwick, head of business lending at Atom bank, said: “Atom bank enjoys a strong relationship with intermediaries, and we use their feedback wherever possible to improve our proposition. It was clear from our discussions with brokers that there was a real gap in the market for higher LTV lending on these larger mortgages, so we’ve reacted to that.

“These changes demonstrate how serious Atom bank is about supporting the UK’s SMEs with their borrowing needs, and mean we will be able to work with a much wider range of businesses, helping them meet their growth ambitions.

“Brokers have also been the driving force behind the range of transformative changes we have made to our commercial broker portal and underwriting process, to the point that Atom bank is now able to get an offer out within 14 working days on average.”

For most borrowers seeking a Recovery Loan Scheme (RLS) facility, the bank will now allow lending up to the scheme maximum loan size of £2m, for LTVs of up to 75%.