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MPowered Mortgages and Newcastle add longer-term fixed rates – round-up

  • 05/07/2022
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MPowered Mortgages and Newcastle add longer-term fixed rates – round-up
Fintech lender MPowered Mortgages has launched seven and 10-year fixed rate mortgages to its prime residential range, alongside adding rolling end dates to its products.


The seven-year fixed rate products start from 3.29 per cent up to 75 per cent loan to value (LTV), and from 3.34 per cent up to the same LTV for 10-year fixed rates.

Both options include a free valuation and a choice of arrangement fee and £500 cashback options.

The rolling end dates apply to its whole residential offering, which includes two, five, seven and 10-year fixed rate products.

Two and five-year fixed rates in the prime residential range start from 3.1 per cent and are also available up to 75 per cent LTV.

Emma Hollingworth (pictured), distribution director at MPowered Mortgages, said: “At a time when mortgage rates and the cost of living continue to rise, it’s crucial that lenders are responding to the needs of homebuyers and supporting them through this challenging time for purchasing a home.

“This is why we have launched our new seven and 10-year fixed rates and rolling end-date products which are both aimed at providing both more certainty over monthly payments in the long run as well as enabling homebuyers to get the full benefit of the fixed rate they sign up for.”

She said the firm remained committed to improving the homebuying journey and providing homebuyers with products that best meet their needs.


Newcastle adds resi three-year fixed rates

Newcastle has released a new range of three-year fixed rates aimed at borrowers with smaller deposits.

The range includes a three-year fixed rate at 95 per cent LTV, priced at 3.8 per cent. It is subject to early repayment charges, starting at three per cent in the first year and then falling one per cent per year.

The products are available for purchase and remortgage up to £500,000, have no product fees, £500 cashback and permits 10 per cent overpayments per year.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “As average UK house prices reach an all-time high this year, more borrowers are looking to purchase properties with smaller deposits.

“The introduction of a new range of higher LTV three-year fixed rates underlines our commitment to providing brokers with attractive solutions that meet the needs of their clients. Whether borrowers are looking to purchase or remortgage, our higher LTV range continues to provide choice to lower deposit borrowers.”

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