This applies to its deal at 60% loan to value (LTV) with a £999 fee, and is the lowest rate within the MPowered Mortgages range.
The lender has also reduced rates across its three-year fixes at the 60%, 65%, 70%, 75% and 80% LTV tiers.
Reductions have also been made to select two- and five-year fixes for remortgage and new purchase customers.
Stuart Cheetham, CEO of MPowered Mortgages, said: “We are delighted to be offering such a competitively priced fixed rate range. Our lowest rate as of today is our three-year fixed at 60% LTV with a £999 fee at just 3.75%. Further cuts to fixed rates can only be good news for mortgage borrowers.
“Borrowers should always seek advice so that they find the best deal that meets their needs and [is] based on true cost.”
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Saffron BS lowers rates for self-employed and contractor borrowers
Saffron for Intermediaries has reduced rates by up to 0.6% on mortgages for contractors and self-employed borrowers.
Saffron Building Society said this would bring rates down to match the market, in an aim to support borrowers.
This includes its two-year fixed rate self-employed product at 80% LTV, which has gone down from 6.07% to 5.67%, and the five-year fixed option, which has fallen from 5.77% to 5.27%.
At 85% LTV, the equivalent products have rates of 5.97% and 5.67% respectively, while these are priced at 6.47% and 5.97% at 90% LTV.
Reductions have also been made to contractor mortgages.
Saffron Building Society has also reduced rates across its owner-occupied range, such as its five-year fixed large loan product at 80% LTV, which has decreased by 0.2% to 4.27%.
At 90% LTV, its standard two-year fix has been lowered by 0.2% to 5.17% and the five-year fix has been cut by 0.1% to 4.77%.
The mutual has also reduced rates on its recently launched professional income boost products, and first-time buyer options.
Changes apply from 2 October.
