"The UK mortgage market remains incredibly competitive, all of which is fantastic news for borrowers."
- Stuart Cheetham, CEO of MPowered Mortgages
MPowered Mortgages has announced a new round of rate reductions across its core two, three and five-year fixed rates.
In its two-year £999 fee purchase range, all rates from 60% through to 80% LTV have reduced, with rates now starting from 4.57%. In its three-year £999 fee range, all rates 65% to 80% LTV have also been reduced.
For remortgages, the focus is on £0 fee options with five-year 60% LTV legal fee saver products now starting from 4.30%.
This fourth set of rate reductions in under a month, with rates reducing by up to 0.36% and many rates by 30bps or more since the start of August.
Stuart Cheetham, CEO of MPowered Mortgages, said: "The UK mortgage market remains incredibly competitive, all of which is fantastic news for borrowers. At MPowered, this is the fourth consecutive week that we have reduced our rates, with rates coming down by up to 0.36% over the past month. Our focus remains on providing value across the LTV range by pricing at 5% LTV intervals.
"Looking ahead, overall, we don’t expect any significant changes in mortgage rates in the short term given that a September cut in Bank Base Rate now seems unlikely and future potential cuts are already priced into the swap curve. However, this market is nothing but unpredictable!"
