MPowered Mortgages has reduced rates across its residential fixed rate range by up to 0.76%. This includes its 2-, 5- and 10-year fixed rate products.
The new reductions will be applied across its product range, including for both purchase and remortgage applications.
Rates on its 2-year fixed products with a £999 arrangement fee have been reduced by up to 0.46% and now start at 5.79%. Rates on its 2-year fixed products with a £0 arrangement fee have been reduced by up to 0.51% and now start at 6.04%.
Rates on its 5-year fixed products with a £999 arrangement fee have been reduced by up to 0.15% and now start at 5.24%. Rates on its 5-year fixed products with a £0 arrangement fee have been reduced by up to 0.20% and now start at 5.44%.
Rates on its 10-year fixed rate products with a £999 arrangement fee saw reductions by up to 0.68% and now start at 5.09%. Rates on its 10-year fixed products with a £0 arrangement fee saw reductions by up to 0.76% and now start at 5.33%.
Remortgage applications also benefit from £500 cashback on completion.
Emma Hollingworth (pictured), director of mortgages, at MPowered Mortgages, said: “Despite the base rate rising by a further 0.75%, we at MPowered Mortgages are committed to keeping rates as low as possible to support homebuyers through these challenging times.
“This move is one of the many initiatives we have launched to ease the burden of buying a home or remortgaging in the current market. We will work with the industry and policy makers to do everything we can to keep rates as low as possible.”
MPowered Mortgages’ new rates will be available to its network of brokers who have access to its prime residential range, which is currently available via limited distribution.
