MPowered Mortgages, the digital mortgage lender, has cut its full suite of fixed-rate mortgages.
The cuts follow the Bank of England (BoE) cutting the base rate yesterday.
2-year fixed rates now start at 4.34% at 60% LTV with £999 fee and at 4.59% with no fee, and 3-year fixed rates now start at 4.14% at 60% LTV with a £999 fee and 4.29% with no fee.
5-year rates start at 4.29% at 60% LTV with a £999 fee and 4.43% with no fee.
The new rates are effective on Friday 7th February 2025.
Stuart Cheetham, CEO of MPowered Mortgages, said: “We have been quick off the mark to cut mortgage rates following yesterday’s base rate cut as we feel strongly that this good news should be passed to borrowers as soon as possible.
“Whilst the market is expecting a further three cuts to the Bank of England base rate in 2025 this has largely been factored into current rates so whilst we may see rates come down a little further, they will not come down significantly so borrowers should bear this in mind when making decisions on their mortgages.”
