MPowered Mortgages has announced changes to its product range with rate reductions across several of its two and five-year fixed rate products.

The lender will offer a 0.05% reduction on all its 70% and 75% standard five-year fixed products, with the lowest rates at 3.02%. It will also offer reductions of up to 0.05% across its whole standard two-year fixed rate range, with rates starting at 2.80%. 

MPowered has also confirmed it will offer reductions of up to 0.15% across its whole HMO product range, with rates starting at 3.04%.

Furthermore, all reductions are also applicable to the lender’s ‘ECO EPC’ range. This range offers customers purchasing or remortgaging a property with an EPC rating of A, B or C a 0.1% reduction from standard rates, and is available on all products, including HMOs.

Commenting on the updates, MPowered distribution director, Emma Hollingworth, said: “We are excited to offer reduced rates on most of our two and five-year fixed rate products, despite swap rates rising.

“We believe remortgaging is set to intensify in 2022, and these products offer borrowers a chance to lock in low rates, ahead of any potential future rate rises.”

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