Rates now start from 5.31% for two-year fixes and from 5.14% for three-year options
Fintech lender MPowered Mortgages has made further rate reductions of up to 31 basis points across its suite of two- and three-year fixed products.
On the lender’s prime two-year fixes, rates now start at 5.31% on purchases, and 5.61% for remortgages with a £999 arrangement fee. Borrowers looking for a two-year fix without an arrangement fee, rates now start at 5.72% for both purchases and remortgages.
MPowered has also slashed rates across its full range of three-year fixed rate products, with new starting from 5.14% for those looking to purchase a new home and 5.15% for those remortgaging.
All applications with MPowered include a free standard valuation, with £500 cashback on selected homebuyers’ products on loans above £200,000, and £500 cashback on all remortgages with £1,000 cashback on loans above £200,000.
“We are delighted to announce our new rates as part of our continued efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home,” stated Matt Surridge (pictured), mortgages sales director at MPowered Mortgages. “As rates continue to hold, we endeavour to continue offering competitive mortgages to prospective and existing homeowners.
“As ever, seeking independent professional advice is critical for those looking to buy or remortgage at this point in time. Brokers can help borrowers access and understand the products most suited to them, allowing them to make an informed decision when it comes to their mortgage.”
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