Purchase and remortgage rates start at below 5%
For the second time this year, fintech lender MPowered Mortgages has announced a reduction in rates across its three-year fixed rate mortgage range.
Rates were slashed by up to 22 basis points (bps), with purchase only loans at 60% LTV now beginning at 4.37%.
The lender also implemented a 20bps reduction for rates at 75% LTV, now from 4.49%, and a 10bps cut for rates at 80% LTV, starting from 4.69%.
Remortgage options for the three-year fixed products see rates starting at 4.46%, 4.58%, and 4.93% for 60%, 75%, and 80% LTV, respectively.
This is MPowered’s second rate reduction this year, following cuts of up to 25bps last week.
“It is great to be able to bring our rates down again, following what has been a very positive start to 2024,” Stuart Cheetham (pictured), chief executive at MPowered Mortgages, commented. “We understand that many people will be facing significant financial pressures this year, which is why we are working to do everything in our power to make our products as accessible as possible.
“While there is cautious optimism about the outlook for rates this year, advisors will still need to continue to use their knowledge of the market to ensure buyers land on a deal that works for them.”
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