MPowered Mortgages launches new cashback products ahead of BoE interest rate decision

MPowered Mortgages has announced the launch of a new range of cashback products, ahead of this week's Bank of England interest rate decision.

The cashback products aim to reduce the overall cost of buying a home at a time when there is increasing financial pressure on homebuyers due to the rising cost of living, as well as increasing mortgage rates. The lender is offering £500 cashback on remortgages up to 75% LTV.

The cashback will be paid upon completion, with no completion fee, and the money could, for example, be used as a contribution towards solicitor costs.

Rates start from 2.80%, and on top of this, the full cashback range comes with no application costs and free valuation.

Emma Hollingworth, distribution director at MPowered Mortgages, commented:

“We are very excited to launch our new range of cashback products which adds to our existing range of established mortgage products which span both prime and buy-to-let. With the cost of living and mortgage rates continuing to rise, our new products are aimed at helping the remortgage process become more cost effective for a customer during this period of economic uncertainty. We strongly believe that we as an industry need to continue to innovate, improve and enhance both the product and the service we offer homebuyers to ensure we are best meeting homebuyers needs in this fast changing market.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.

Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget

NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?

The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.

In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.