MPowered Mortgages has cut rates across its suite of five-year fixed products for homebuyers and remortgagers, and all three-year fixed deals to 75% loan to value by up to 27 basis points.
The fintech lender says, on its prime three-year fixed products, with a £999 arrangement fee, it has reduced rates by 20bps, with loans now starting at 4.54%.
For borrowers who opt for a deal with a no arrangement fee, the business offers rate reductions of up to 27bps, with rates starting from 4.84%.
It has also cut rates across its full range of five-year fixed-rate loans. New rates on five-year fixed-rate products begin at 4.41% at 60% LTV. The firm’s 75%, 80% and 85% LTV ranges have rates starting at 4.46%, 4.61% and 4.66%, respectively.
All applications come with a free valuation, with remortgage applications and £500 cashback on completion.
The platform, founded in 2021 and part of the MQube group, says this is the eighth time it has reduced product rates since November.
MPowered Mortgages managing director Emma Hollingworth says: “We are committed to supporting brokers and their customers, which is why we have reduced rates to make our mortgages more affordable during what is a tough time to purchase or remortgage a home.”
