MPowered Mortgages has cut its three-year fixed rate residential mortgage range by up to 0.45 per cent, the second time it has cut mortgage rates in under a week.
For remortgage applications, rates for three-year fixed rates with a £1,999 arrangement fee start from 5.79 per cent, down from 6.24 per cent previously.
Deals with a £999 arrangement fee are priced at 5.94 per cent, a decrease from 6.34 per cent previously.
For purchase applications, three-year fixed rates start from 5.84 per cent.
Stuart Cheetham, CEO of MPowered Mortgages, said: “Swap rates have dropped substantially in the last 10 days. We are therefore taking the opportunity to reduce another fixed rate range, passing on the benefit of improving swap rates to borrowers.
“While we hope this is good news for borrowers, it’s still a very challenging time to be a mortgage holder or buy a home, so we would urge borrowers to speak to a financial adviser before making any decisions about a mortgage.”
He added: “Rates reductions will apply across all three-year product options, including both purchase and remortgage products up to 85 per cent loan to value (LTV).”
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.
