MPowered Mortgages has reduced its 2-year and 3-year fixed-rate mortgage products by up to 0.20%.
The fintech lender, utilising artificial intelligence to enhance the mortgage process, now offers 2-year fixed rates from 5.31% for new purchases and 5.61% for remortgaging, with a £999 arrangement fee.
For those seeking a 2-year fixed deal without an arrangement fee, rates start at 5.72%. 3-year fixed rates have also been lowered, starting at 5.14% for purchases and 5.15% for remortgages.
Customers benefit from a free standard valuation on all applications. Homebuyers receive £500 cashback on loans over £200,000, and remortgage customers receive £500 cashback, with £1,000 on loans above £200,000, paid upon completion.
Matt Surridge (pictured), sales director at MPowered Mortgages, said: “We are delighted to announce our new rates as part of our continued efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home. As rates continue to hold, we endeavor to continue offering competitive mortgages to prospective and existing homeowners.”
He added: “As ever, seeking independent professional advice is critical for those looking to buy or remortgage at this point in time. Brokers can help borrowers access and understand the products most suited to them, allowing them to make an informed decision when it comes to their mortgage.”
