MPowered Mortgages reduces rates across all three and 10-year fixed products

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.