New bank Atom will tonight pull its headline-grabbing five-year fixed-rate mortgage due to "huge demand".

The 1.29% rate with a £900 fee for those who borrow a maximum 60% of their property value is the cheapest-ever five-year fixed-rate mortgage by a considerable margin. The next best is about 1.7% for borrowing the same proportion of your property's value.

Atom will officially axe it at 11.59pm tonight – but as the deal is only available via selected brokers it will now be unattainable for most, given there were only a couple of hours of the working day remaining at time of publication.

The deal was described by broker London & Country as "the lowest ever, by a mile" when it launched last week.

The 1.29% product was one of a number of market-leading deals Atom launched last Wednesday. None of the others will be pulled tonight but could yet go at any point due to huge demand.