MPowered Mortgages, the fintech mortgage lender using AI to speed up and simplify the mortgage journey for homebuyers and remortgagers, has further reduced rates across its suite of three- and 10-year fixed products. The rate reductions apply to all products, including its products with no arrangement fees.
On its prime residential three-year fixed range, MPowered Mortgages has reduced rates by up to 0.20%. Rates now start at 4.36%, placing the fintech lender at the top of the sourcing tables for three-year fixes in loan-to-value (LTV) bands from 60% to 85% on purchases, and 80% to 85% on remortgages.
On its 10-year fixed range, MPowered Mortgages has significantly reduced rates by up to 0.70%, with rates now starting at 4.29%.
MPowered Mortgages offers products up to 85% LTV, with all applications receiving a free valuation. For remortgage applications, borrowers also benefit from £500 cashback on completion.
The changes follow MPowered’s recent rate reductions on two- and five-year fixed rates, and the announcement that it has increased its maximum loan-to-income (LTI) ratio to up to 5.5 times for employed applicants.
