Digital mortgage lender MPowered Mortgages has lowered rates across its full suite of fixed rate deals.
Two-year fixed rates will start at 4.34% at 60% loan to value (LTV) with a £999 fee and at 4.59% with no fee.
Three-year fixed rates now begin at 4.14% at 60% LTV with a £999 fee and 4.29% with no fee.
Five-year rates are priced at 4.29% at 60% LTV with a £999 fee and 4.43% with no fee.
The new rates are effective on Friday 7 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.
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“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.”
In January, MPowered Mortgages lowered three-year fixed rates.
Chorley BS adds trio of shared ownership deals including fixed rates
Chorley Building Society has relaunched its shared ownership range, including fixed rate and discount options.
This includes a two-year fixed rate at 95% LTV at 5.49% and a five-year fixed rate at the same LTV tier at 5.29%.
There is also a two-year discount deal at 95% LTV at 5.59%.
Liz Pearson, head of operations, said: “We are very pleased to be able to offer our new range of shared ownership mortgage products. We’ve listened to feedback from our brokers, and they told us they needed a broader range of options to help find the right product for their client.
“So, we have launched a range of fixed and discounted products with two- and five-year lengths that do not have a scheme fee or application fee, supporting customers to reduce their upfront costs.”
Kim Roby, customer services director at Chorley Building Society, noted: “As a mutual building society, it’s part of our ethos to help people buy their own home. Being able to offer the government-backed help scheme to enable those who might not otherwise be able to afford a property onto the housing ladder is something that we are all very proud of.”
