MPowered Mortgages has reduced its fixed rates for a third consecutive week, this time in introducing reductions of up to 0.17%.
The reductions across its product range reflect the lender’s focus on providing value through its 5% loan-to-value (LTV) band pricing structure, enabling customers to choose the LTV and rate that most closely associates with their loan size.
The most notable changes are the 2-year and 3-year remortgage products, with 3-year in particular seeing most rates cut by 0.10% to 0.15%, and with the 70% LTV and 75% LTV £0 fee remortgage options both dropping by 0.17%.
Its 3-year 60% loan-to-value (LTV) remortgage product with £999 fee now starts from just 4.25%, with the £0 fee option from just 4.44%.
Rates have also been cut across the 5-year space with a 65% LTV 5-year remortgage £0 fee now starting from just 4.35%.
Stuart Cheetham, CEO of MPowered Mortgages, said: “We’ve cut rates yet again for the third time this month, which is great news, but we’ve not just cut rates, we’ve cut rates where they matter!
“We’re focused on providing brokers and their customers with value across the LTV range rather than on just headline-grabbing rates which is why we’ve delivered these cuts across the core 60-80% LTV segment on the most popular products in our range.”
Cheetham added: “With great pricing in 5% LTV segments, brokers can look to match their customer’s borrowing requirements more closely with the LTV risk to achieve a better outcome.
“We’re unique amongst prime lenders for taking this approach to pricing and feel it achieves the best outcomes for customers.”
