"Swap rates, which determine the price of fixed rate mortgages, have also risen which creates more uncertainty about the direction mortgage rates will go in the coming weeks and months. "
- Stuart Cheetham, CEO of MPowered Mortgages
MPowered Mortgages has made further cuts to its three-year fixed rate mortgage products by up to 30 basis points.
Three-year rates for new purchase customers now start from 3.93% at 60% LTV with a £999 fee.
Three-year rates for remortgage customers start from 4.08% at 60% LTV with a £999 fee.
Stuart Cheetham, CEO of MPowered Mortgages, said: "The Chancellor's Autumn Budget is looming and the concerns over unfunded tax cuts in Rachel Reeves' plans has spooked markets with most lenders increasing rates over the past week. Swap rates, which determine the price of fixed rate mortgages, have also risen which creates more uncertainty about the direction mortgage rates will go in the coming weeks and months.
"MPowered Mortgages is pleased to be reducing its three-year rates to remain as competitive as possible even in these unreliable market conditions we are in at the moment. At this confusing and uncertain time for homeowners and prospective buyers, independent financial advice has never been so important and we would urge borrowers to get advice before making any decisions when it comes to their mortgage."
