"We’ve delivered these cuts across the core 60-80% LTV segment on the most popular products in our range."
- Stuart Cheetham, CEO of MPowered Mortgages
MPowered Mortgages has reduced rates across its mortgage range by up to 0.17%.
The reductions are across MPowered's new 5% LTV band pricing structure which enables customers to choose the LTV and rate that most closely associates with their loan size.
The most notable changes are across two and three-year remortgage products, with three-year products seeing most rates cut by 10-15 basis points, with the 70% and 75% fee-free remortgage options both dropping by 0.17%.
A three-year 60% LTV remortgage product with a £999 fee now starts from 4.25%, with the £0 fee option from 4.44%.
Rates have also been cut across five-year products with a 65% fee-free remortgage now starting from 4.35%.
Stuart Cheetham, CEO of MPowered Mortgages, said: "We’ve cut rates yet again for the third time this month, which is great news, but we’ve not just cut rates, we’ve cut rates where they matter! We’re focused on providing brokers and their customers with value across the LTV range rather than on just headline-grabbing rates which is why we’ve delivered these cuts across the core 60-80% LTV segment on the most popular products in our range.
“With great pricing in 5% LTV segments, brokers can look to match their customer’s borrowing requirements more closely with the LTV risk to achieve a better outcome. We’re unique amongst prime lenders for taking this approach to pricing and feel it achieves the best outcomes for customers.”
