MPowered Mortgages announce further rate cuts

The prime residential mortgage lender has announced additional rate reductions across its fixed rate products following positive movement in the swap markets.

Related topics:  Finance,  mortgages
Property | Reporter
29th September 2023
Mortgage 221
"Borrowers looking to take advantage of these new rates should look to seek independent professional advice in order to ensure a comprehensive understanding of the products on offer and how they match up to their requirements"
- Stuart Cheetham - MPowered Mortgages

MPowered Mortgages prime residential two-year fixed mortgage rates have seen reductions of up to 0.15%. Two-year fixed-rate products without an arrangement fee, start at 5.92% for both purchases and remortgages.

For three-year fixed-rate mortgages with an arrangement fee of £999, rates begin at 5.49% for purchasers and 5.50% for remortgages. Three-year fixed rates with no arrangement fee benefit from rates as low as 5.69% for remortgages and 5.50% for purchases.

MPowered Mortgages has also reduced all its rates on its five-year fixed range, with rates for purchasers beginning at 5.09%, and rates for remortgagers beginning at 5.14% – both with a £1,999 arrangement fee. On five-year fixes without an arrangement fee, rates now start at 5.29% for purchases and 5.34% for remortgages.

This marks the fourth round of rates reductions by MPowered Mortgages in September alone.

Stuart Cheetham, CEO of MPowered Mortgages, comments: “At MPowered, we are committed to keeping our rates as low as possible for our customers. Given the swap markets have seen notable stability since the BoE’s announcement and inflation continues to hold firm, we are optimistic that a more stable economic landscape will help drive activity in the mortgage market throughout the remainder of the year.

“Borrowers looking to take advantage of these new rates should look to seek independent professional advice in order to ensure a comprehensive understanding of the products on offer and how they match up to their requirements.”

More like this
Latest from Financial Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 20,000 landlords and property specialists and keep up-to-date with industry news and upcoming events via our newsletter.