Fintech lender MPowered Mortgages has lowered rates for two-year fixes by up to 0.49 per cent and increased cashback for five-year fixes to £1,000.
The change is to “support borrowers facing ongoing financial pressure as the cost of living increases”.
The lender has simplified its prime two-year fixed rate range, with one rate available up to 85 per cent loan to value (LTV) alongside fee-free, £999 fee and £1,999 options.
Rates begin from 4.64 per cent for purchase cases, down from 5.13 per cent previously.
Pricing starts from 4.74 per cent for £999 fee cases and 4.9 per cent for fee-free options.
On the remortgage side, the lender has cut two-year fixed rate deals with its fee-free version starting from 5.04 per cent at 85 per cent LTV.
Remortgage deals with a £999 fee and a £1,999 fee have been cut to 4.94 per cent and 4.84 per cent respectively.
Emma Hollingworth (pictured), managing director of mortgages at MPowered Mortgages, said: “With the ongoing uncertainty in the mortgage market, it is important we continue to support consumers during the process of making one of the biggest and most impactful financial decisions of their lives.
“MPowered Mortgages is committed to easing the financial pressure on those looking to buy a home or remortgage at this time, whilst offering as much flexibility and choice as we can, in order to ensure that consumers are able to access the best product for them.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
