MPowered Mortgages has reduced its 2-year fixed rate range for the first time in 2023, offering rates now starting from 5.79%.
The adjustment sees rates for 2-year fixed mortgages with a £1,999 fee drop from 6.15% to 5.79%. Mortgages with a £999 arrangement fee now offer a rate of 5.99%, previously 6.35%, while a mortgage with no arrangement fee now starts at a 2-year fixed rate of 6.34%, down from 6.50%.
The CEO of MPowered Mortgages, Stuart Cheetham (pictured), said: “Inflation is falling, swap rates are falling and this is why we are able to reduce our rates. We really want to do everything we can to keep rates as low as possible to support borrowers.”
Cheetham also emphasised the importance of seeking financial advice: “Borrowers should nevertheless speak to a financial adviser to ensure they choose the right product that meets their individual circumstances.”
These rate reductions apply to all 2-year fixed rates, for both purchases and remortgages. MPowered Mortgages offers a variety of fee options, including a £0 fee option and a £500 cashback on all remortgage applications.
