For prime two-year fixed rates pricing begins from 5.31 per cent for purchase products and 5.61 per cent for remortgages with a £999 fee.
Fee-free products start from 5.72 per cent for purchase and remortgage.
Three-year fixed rate purchase products start from 5.14 per cent and 5.15 per cent for those remortgaging.
All applications with MPowered include a free standard valuation, with £500 cashback on selected homebuyers’ products on loans above £200,000 and £500 cashback on all remortgages with £1000 cashback on loans above £200,000, all cashbacks are paid on completion.
Matt Surridge, sales director of mortgages at MPowered Mortgages, said: “We are delighted to announce our new rates as part of our continued efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home. As rates continue to hold, we endeavor to continue offering competitive mortgages to prospective and existing homeowners.
“As ever, seeking independent professional advice is critical for those looking to buy or remortgage at this point in time. Brokers can help borrowers access and understand the products most suited to them, allowing them to make an informed decision when it comes to their mortgage.”
Suffolk BS launches products
Suffolk Building Society has brought out a duo of expat buy-to-let and self-build products to its ranges.
This includes a five-year fixed rate expat buy-to-let mortgage at 6.39 per cent. The deal has a maximum LTV at 80 per cent, minimum loan size of £75,000 and maximum loan size of £1m.
The deal comes with an application fee of £199 and completion fee of £1,499.
The lender has also added a two-year discount product at 6.29 per cent for self-build borrowers with loan sizes varying from £1m to £2m.
It has a maximum loan size of 70 per cent LTV with an application fee of £199 and completion fee of 0.15 per cent of the total loan amount.
After the two-year period, the product will revert to its standard variable rate minus 0.5 per cent for 36 months.
Andrew Sadler, key account manager at Suffolk Building Society, said: “The introduction of a five-year expat BTL product will widen our appeal to expats, providing a longer-term fixed rate option to this target market, supporting those looking for rate security over an extended period.
“The return of the self-build large loan product will enable us to support customers with larger self-build or renovation projects. A long-time champion of this type of borrowing, we waive the early repayment charge for all self builders and renovators who switch to a follow-on product. There is also a lower interest rate follow-on product available to those whose finished build, or renovation, achieves Energy Performance Certificate (EPC) A or B.
“Both of these products are competitive, allowing us to offer more choice to brokers and borrowers in these niche markets.”
