MPowered Mortgages has cut five-year fixed rates to 4.38 per cent, down from 4.84 per cent previously.
Remortgage rates begin from 4.68 per cent, down from 5.14 per cent. Both come with a £1,999 arrangement fee.
Five-year fixed rates without an arrangement fee are priced from 4.53 per cent, a decrease from 4.99 per cent for purchases, and 4.78 per cent for remortgages, a fall from 5.04 per cent.
For prime residential two-year fixed rates have been cut by 0.42 per cent with purchase-only deals starting from 4.79 per cent at 60 per cent loan to value (LTV) with a £999 arrangement fee.
Remortgage two-year fixed rates begin from 5.19 per cent at 60 per cent LTV with a £999 arrangement fee.
Three-year fixed rates have been reduced by up to 0.47 per cent with purchase rates with a £1,999 fee beginning at 4.59 per cent and 4.68 per cent on remortgage products.
Three-year fixed rates without an arrangement fee are priced from 4.99 per cent for purchases and remortgages.
For 10-year fixed rates, pricing has been slashed by up to 0.3 per cent and start at 4.59 per cent at 85 per cent LTV for purchasers with a £999 arrangement fee and 4.69 per cent for remortgages paying the same fee.
Two and five-year fixe purchase products for loans above £200,000 also come with an incentive of £500 cashback on completion.
For those refinancing there is a choice of either legal assist solution or £500 cashback or for remortgages over £200,000, £1,000 cashback.
MPowered Mortgages: ‘Keep calm and carry on’
Stuart Cheetham (pictured), CEO of MPowered Mortgages, said: “The Christmas break is a perfect time for people to review their finances and think about moving house, which is why we thought it was a great opportunity to launch new rates to help them.
“Keep calm and carry on is our motto for the Christmas season. We don’t have falling snow, but we do have falling swap rates, and with increased stability in the market, there are very positive signs for borrowers in 2024.”
He continued: “As always, borrowers looking to take advantage of these new rates should seek independent professional advice to ensure a comprehensive understanding of the products on offer and how they match up to their requirements.”
