Rates now start from 5.79%
MPowered Mortgages has announced rate cuts to its range of two-year fixes, reducing rates for the first time this year.
Rates on the fintech mortgage lender’s two-year fixes with a £1,999 fee now start at 5.79% from 6.15% previously, those with a £999 arrangement fee now start at 5.99% from 6.35% previously, and those with no arrangement fee now start at 6.34% from 6.50% previously.
MPowered’s rate reductions will apply across all two-year fixes, both purchase and remortgage. The lender also offers a choice of fee options, including a £0 fee option and a £500 cashback on all remortgage applications.
“Inflation is falling, swap rates are falling, and this is why we are able to reduce our rates,” stated Stuart Cheetham (pictured), chief executive at MPowered Mortgages. “We really want to do everything we can to keep rates as low as possible to support borrowers.
“Borrowers should nevertheless speak to a financial adviser to ensure they choose the right product that meets their individual circumstances.
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