Purchase and remortgage deals now start from 5.24% and 5.25% respectively
Fintech lender MPowered Mortgages has announced further rate reductions on selected three-year fixed rate products.
The lender has products for purchasers looking for loans under £200,000 with no arrangement fee, with rates starting from 5.64%. Deals with a £999 arrangement fee start from 5.34%.
For purchase loans over £200,000, MPowered’s rates now start from 5.24% with a £1,999 arrangement fee, and 5.34% with a £999 arrangement fee.
Those remortgaging can access fixed loans with a maximum loan size of £200,000. Rates now start at 5.35% at 75% loan-to-value (LTV) with a £999 arrangement fee.
Remortgagers who do not want to pay an arrangement fee also have options – 65% LTV products with rates from 5.59% and 90% LTV deals with rates from 6.04%.
All remortgage deals for a loan under the value of £200,000 come with £500 cashback.
For customers looking for a remortgage loan with a minimum value of £200,000, rates now start at 5.25%. This is for a 75% LTV, with a £1,999 arrangement fee, complete with a £1,000 cashback incentive. Remortgage deals with a slightly lower arrangement fee of £999 have rates from 5.35% for a 75% LTV, and from 5.80% for a 90% LTV product.
“We always do our best to continue to keep rates as low as possible, as we want to support remortgagers and those looking to purchase a property amid challenging market conditions,” stated Matt Surridge (pictured), sales director at MPowered Mortgages.
“Borrowers looking to take advantage of these new rates should seek independent professional advice in order to ensure a comprehensive understanding of the products on offer and how they match up to their requirements.”
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