The price changes come on the back of the latest Bank of England (BoE) base rate increase announced last week.
The lender has upped rates for its 60% LTGDV and 70% LTGDV fixed-rate options by 50 basis points, meaning the products are now available at 9.99% and 11.99%, respectively.
However, it chose to keep the same pricing for its 65% LTGDV finance range, which remains available at 10.49%.
In total since January 2023, Atelier has increased the rates for its 60% and 70% LTGDV products by only 100 basis points, and the 65% LTGDV option by 50 basis points, despite several consecutive BoE base rate rises during the same period.
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Paul Silva, chief financial officer at Atelier (pictured above, left), said: “While the market faces continuing headwinds, our strong liquidity profile and intelligent balance sheet management allows us to maintain our market-leading competitive rates — we’ve used this strength to shield developers from many of the base rate rises announced by the BoE over the past 18 months.
“Our appetite to fund well-structured development opportunities across a range of LTVs, including at 70% LTGDV, remains strong.”
Martin Gilsenan, chief originations officer at Atelier (right), added: “We’re committed to helping developers build the homes Britain needs, and to supporting them with highly competitive and reliable finance.
“Everything we do, from the way we price our loans to the expert support we offer all our borrowers right through to project completion, is focused on providing finance that’s tailored to each developer’s needs and enables them to complete their schemes successfully.”