THE PROPERTY FILTER TAKE
Coventry Building Society and Atom Bank have both cut fixed mortgage rates, with reductions of up to 0.2 percentage points.
On a typical £150,000 interest-only buy-to-let (BTL) loan, that shift works out to roughly £25 a month, or £300 a year - modest, but it adds up across a portfolio.
If you're due a remortgage in the next few months, you may wish to ask your broker to re-run the numbers against these new rates before you commit.
Coventry Building Society and Atom Bank have both cut fixed mortgage rates this month. According to Mortgage Solutions (14 August 2026), reductions run up to 0.2 percentage points across both lenders' ranges. Coventry's cuts touch its whole fixed-rate book, from first-time buyer deals to limited company buy-to-let (BTL) remortgages. Atom Bank, meanwhile, has trimmed pricing on both its prime and near-prime products. Here's what actually changed, and what it might mean for your monthly payment.
Coventry Building Society trims its whole fixed-rate range
Coventry Building Society has reduced all its fixed mortgage rates, with cuts of up to 0.2 percentage points, according to Mortgage Solutions (14 August 2026). The changes apply to new and existing borrowers.
Its two-year fix at 90% LTV (loan-to-value, comparing mortgage size to property value) with no fee and £500 cashback for first-time buyers is now priced at 5.17%. For landlords, there's a five-year fix for limited company BTL remortgages, priced at 5.1% at 75% LTV with a £1,999 fee. That deal applies to properties with an Energy Performance Certificate (EPC) rating of A to C.
Ben Williams, corporate account manager at Coventry Building Society, said the changes are designed to give brokers more competitive options for clients, according to Mortgage Solutions (14 August 2026). That includes everyone from first-time buyers to limited company landlords, he said.
Atom Bank cuts prime and near-prime pricing
Atom Bank has lowered rates across its prime and near-prime ranges, according to Mortgage Solutions (14 August 2026). Prime deals have been cut by 0.2 percentage points and now start at 5.29%, with a £900 fee. Near-prime pricing is down by 0.1 percentage points, also starting at 5.29%, but with a higher £1,995 fee.
The higher fee on near-prime deals reflects lender criteria (the rules used to decide who qualifies, and at what price) for less-than-perfect credit histories. Richard Harrison, head of mortgages at Atom Bank, said the lender is "providing even better value to borrowers, irrespective of their credit status," according to Mortgage Solutions (14 August 2026). He also pointed to lending available up to 95% LTV across both ranges, useful for first-time buyers with smaller deposits, not just landlords.
What the cuts mean for your monthly payment
Run the numbers and the difference becomes clearer. Take Coventry's five-year limited company BTL deal at 5.1%. On an interest-only loan of £150,000 (where you pay just the interest each month, not the capital), that works out to £637.50 a month.
Say your existing deal sits around 5.3%, roughly where Coventry's pricing would have been before this cut. Moving to 5.1% saves about £25 a month, or £300 a year, on a loan that size. It's not a fortune, but it adds up across a portfolio of properties.
Anyone weighing up a BTL remortgage may wish to run their own figures through a stress test calculator before assuming this saving applies to their loan. It checks whether rental income covers the mortgage at a set interest rate, the stress test lenders use to assess affordability. For a broader look at rates and lender criteria across the market, our free calculators hub is worth a visit. And the negotiation and finance blog covers how to get the most from a remortgage conversation with your broker.
Key takeaways
- Coventry Building Society has cut fixed rates by up to 0.2 percentage points across new and existing borrower products (Mortgage Solutions, 14 August 2026). - Its five-year limited company BTL remortgage deal is priced at 5.1% at 75% LTV with a £1,999 fee, for EPC A-C rated properties. - Atom Bank has cut prime rates by 0.2 percentage points, now starting at 5.29%, and near-prime rates by 0.1 percentage points, also from 5.29% but with a higher fee. - On a £150,000 interest-only BTL loan, a move from around 5.3% to 5.1% works out to roughly £25 a month less. - Both changes took effect from 14 August 2026; check with your broker whether you qualify before assuming a like-for-like saving.
