It also introduces new 10-year fixed products
MPowered Mortgages has reduced rates across its two- and three-year fixed ranges, and introduced new 10-year fixed products at 75% LTV.
On its residential two-year fixes with a £999 arrangement fee, the fintech mortgage lender has announced a 35 basis point (bps) reduction on all products at 60% and 75% LTV; and a 30bps reduction for all products at 80% and 85% LTV. Two-year fixed rate products with a £0 arrangement fee have also seen reductions by 40bps at 60% and 75% LTV, and 35 bps at 80% and 85% LTV. Two-year fixes now start from 4.84%.
For the three-year fixes, both £0 and £999 arrangement fee products have been cut by 35bps at 65% LTV, by 25 basis bps at 75% LTV, and by 40bps on all products at 80% and 85% LTV. Three-year fixed rate products now start from 4.74%.
The lender has also expanded its 10-year fixed range, introducing new 75% LTV products with £0 fee and £999 arrangement fee options. Rates start from 4.79%.
“Lenders have an important role to play in supporting homebuyers and remortgagers during this difficult period,” Emma Hollingworth (pictured), managing director of mortgages at MPowered Mortgages, commented. “We urge all prospective homebuyers and remortgagers to seek advice now via a mortgage adviser, more than ever before.
“As the cost-of-living crisis continues to squeeze finances, we see this as an important aspect of what we do, and are delighted to be able to reduce our fixed rates today, and will continue to do our utmost to keep these as low as we possibly can.”
