MPowered Mortgages will lower three-year fixed purchase and remortgage rates, the fifth time it has cut rates since August.
The change to MPowered Mortgages’ three-year no-fee fixed rates will come into force from 7 September.
The three-year fixed rates are 4.37% for 65% loan to value (LTV), 4.49% for 70% LTV, 4.51% for 75% LTV and 4.75% for 80% LTV.
Three-year fixed remortgage rates with cashback or fee-saver options on £999 and fee-free options have been cut by up to 0.2%.
It is the fifth time the lender has cut the rates since the start of August, with the latest cut taking place near the end of the month, with core rates for two-, three- and five-year deals impacted.
The firm has also announced a revised pricing structure by 5% LTV bands, which the firm says it “believes is a fairer way to price mortgage products”.
Stuart Cheetham, CEO of MPowered Mortgages, said: “We are delighted to be cutting rates for the fifth time since the start of August. Competition heating up between lenders is making now an ideal opportunity for borrowers to get their first foot on the ladder.
“We would nevertheless urge borrowers to seek advice so that they both find the best deal that suits their needs as well as the best deal based on true cost, not just those with headline-grabbing rates.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
