MPowered Mortgages slashes fixed rates

It drops rates by up to 0.22%, with two-year fixes now starting at 5.56%

MPowered Mortgages slashes fixed rates

Fintech lender MPowered Mortgages has reduced rates across its suite of fixed rate products.

On the lender’s prime two-year fixed products, rates have been slashed by up to 0.22% and now start at 5.56% on purchases and 5.86% on remortgages.

Rates of three-year fixed products have been reduced by 0.05% and now begin at 5.64% for purchasers and 5.59% for remortgagers.

MPowered has also reduced all its rates on its five-year fixed range by up to 0.15%, with rates for purchasers and remortgagers starting from 5.34% and 5.29%, respectively. The lender’s 10-year fixed rates now start at 5.14%.

The changes follow MPowered’s recent announcement that it has launched a new range of rates at 90% loan-to-value (LTV), which include up to £1,000 cashback and a free valuation. Rates on its 90% LTV range for two-, three-, and five-year fixes now start at 6.23%, 5.92%, and 5.59%, respectively.

“Central to our philosophy at MPowered is being able to keep our rates affordable for our customers, allowing them to achieve their homeowning ambitions,” stated Emma Hollingworth (pictured), mortgages managing director at MPowered Mortgages. “Particularly as the economic landscape remains unpredictable, we are delighted to be offering new competitive rates across our entire fixed rate product range.

“For borrowers looking to take advantage of these new rates, we would always encourage consumers to seek independent professional advice in order to ensure a comprehensive understanding of the products on offer and how they match up to their requirements.”

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