"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"
- Stuart Cheetham, CEO of MPowered Mortgages
MPowered Mortgages has reduced rates across its full suite of fixed rate mortgages.
Available to new purchase customers, two-year fixed rates now start from 4.34% at 60% LTV with a £999 fee and at 4.59% with no fee.
Three-year fixed rates have reduced to 4.14% at 60% LTV with a £999 fee and 4.29% fee-free, while five-year fixes now start from 4.29% with a £999 fee and 4.43% with no fee.
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.
"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.”
