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MPowered Mortgages cuts three and 10-year fixed rates
Fintech mortgage lender MPowered Mortgages has reduced rates across its three and 10-year fixed rates.
The rate reductions apply to all products, which also covers products with no arrangement fee.
Prime residential three-year fixed rates have been lowered by up to 0.2 per cent, with rates starting from 4.36 per cent.
The lender said that this put them “at the top of the sourcing tables” for three-year fixed rates between 60 and 85 per cent loan to value (LTV) for purchases and 80 to 85 per cent LTV on remortgages.
In its 10-year fixed rates range, rates have been cut by up to 0.7 per cent, with pricing beginning from 4.29 per cent.
The lender offers products up to 85 per cent LTV, and all applications have a free valuation. Remortgage applications also get £500 cashback on completion.
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MPowered Mortgages has made a number of changes to its range, including reducing two and five-year fixed rates as well as increasing the maximum loan to income ratio up to 5.5 times for employed applicants.
MPowered Mortgages: ‘A challenging time to purchase or remortgage’
Emma Hollingworth (pictured), managing director of mortgages at MPowered Mortgages, said: “We are delighted to continue reducing our rates across our products as part of our efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home.
“It is, of course, a positive sign to see reductions in rates, and we hope to continue to be able to support those looking to purchase or remortgage a property in this way.”
She added: “To every consumer in the process, seeking independent professional advice is particularly important at this time. Brokers can help borrowers access and understand the products best suited to them, allowing them to make an informed decision when it comes to their mortgage.”