The digital bank has simplified the way that affordability for variable rate loans is assessed.
With immediate effect, variable rate commercial mortgage applications will now be stressed against a rate of margin plus base rate plus 1%.
These changes come in response to broker feedback.
The changes are also aimed at allowing great broker flexibility, allowing them to structure deals which align with the ambitions of their client.
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David Castling, head of intermediary distribution at Atom bank (pictured above), commented: “By simplifying our stressed interest rate, we are helping business borrowers to access larger loans and take the finance they need in order to achieve their ambitions.
“Whether they are looking to grow, to purchase new premises or to refinance existing facilities, Atom bank is determined to support SMEs in reaching their potential and our improved affordability assessment will mean we can do just that.
“Broker feedback is incredibly important to us, and has helped inform a host of the improvements we have made to our commercial proposition in recent months.
“We will continue to work closely with brokers to identify any further enhancements we can deliver which will provide a tangible boost to SMEs in the UK.”
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