It reduces rates by up to 30bps, with five-year fixes now starting from 4.84%
Aiming to provide some reprieve to mortgage buyers and holders ahead of the festive season, fintech lender MPowered Mortgages has reduced rates for its two-, three-, and five-year fixed rate products.
For the lender’s five-year fixes, rates now start at 4.84% for the £1,999 fee product, 4.94% for the £999 arrangement fee product, and 4.99% for the fee-free product. Remortgaging options are also available at 4.89% for both free legals and cashback products.
Meanwhile, on the two-year fixes, rates start at 5.11% for purchases, and at 5.41% for remortgages with a £999 arrangement fee. Refinancing options come with rates starting at 5.41%, accompanied by a choice of up to £1,000 cashback or free legal options. Consumers seeking a two-year fixed product without an arrangement fee can find rates starting at 5.52% for both purchases and remortgages.
MPowered has also implemented a reduction of 20 basis points across its entire range of three-year fixed rate products, with the new rates starting from 5.04% for products with a £999 fee and 5.34% for those that are fee-free.
All applications with MPowered Mortgages include a free valuation, with an additional £500 cashback boost applicable to most loans exceeding £200,000 upon completion.
“As a prime mortgage lender, these new rates are part of our continued efforts to support homeowners and buyers during what is a challenging time to own a home,” commented Matt Surridge (pictured), mortgages sales director at MPowered Mortgages. “In this higher interest rate environment, we’re endeavouring to offer as competitive mortgage rates as possible, to ensure borrowers can achieve their homeowning ambitions.
“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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