"Since the news on inflation last week, we’ve seen swap rates return to a lower level to what we saw before, giving a more positive outlook for borrowers."
- Stuart Cheetham, CEO of MPowered Mortgages
MPowered Mortgages has reduced rates across its two and three-year fixed rate mortgage products.
The latest rate cuts impact both new purchase and remortgage three-year fixed rates.
Two year purchase fixed rates now start from 4.29% at 60% LTV with a £999 fee and 4.53% with no fee.
Three-year purchase fixed rates start from 4.12% at 60% LTV with a £999 fee and 4.28% fee-free.
Stuart Cheetham, CEO of MPowered Mortgages, said: "Since the news on inflation last week, we’ve seen swap rates return to a lower level to what we saw before, giving a more positive outlook for borrowers.
"The good news is that falling swap rates mean lenders can reduce mortgage rates, as we are doing today, which will be welcome news for borrowers especially given the upcoming stamp duty changes. That said, borrowers should always seek independent financial advice as the lowest rate is not always the best deal for them based on their individual circumstances."
