"We aim to expand MPowered’s competitive proposition into higher LTV lending."
- Matt Surridge, sales director at MPowered Mortgages
MPowered Mortgages has announced rate cuts across its 80% LTV mortgage products.
Two and three-year fixed rates have been reduced by up to 0.49%, with rates now starting from 4.75% for a three-year product with a £999 fee.
Three-year remortgage rates now start from 4.98% with a £999 fee, down from 5.35%.
Additionally, three-year fixed rate low-LTV rates have been cut by up to 0.08%, with £999 purchase rates now starting from 4.39% and fee-free rates from 4.64%.
Five-year purchase rates have also seen rate reductions of up to 0.17%.
Matt Surridge, sales director at MPowered Mortgages, commented: “As well as offering an unrivalled service proposition, we also offer products that step up gradually in 5% LTV increments, meaning that, unlike most other lenders, our pricing aims to be more closely tailored to a customer’s risk profile.
“Over the past few months, we have concentrated on offering lower LTV lending at 75% and below. Now, with the introduction of new, highly competitive rates at 80% LTV, we aim to expand MPowered’s competitive proposition into higher LTV lending. This addition of another LTV tier will enable MPowered to effectively compete with the top six lenders in the market.”
