MPowered Mortgages has lowered the rates across its two and three-year fixed ranges.

The fintech mortgage lender has also introduced new 10-year fixed products at 75% LTV.

On its residential two-year fixed products with a £999 arrangement fee, MPowered has confirmed a 35 basis point reduction on all its products at 60% and 75% LTV, as well as a 30 basis point reduction for all products at 80% and 85% LTV.

Two-year fixed products with a £0 arrangement fee have seen reductions by 40 basis points at 60% and 75% LTV, as well as 35 basis points at 80% and 85% LTV.

As part of the changes, the lender stated that both its £0 and £999 arrangement fee three-year fixed rate products have also seen a 35 basis point reduction at 65% LTV, a 25 basis point reduction at 75% LTV and a 40 basis point reduction on all products at 80% and 85% LTV.

Furthermore, MPowered has also expanded its 10-year fixed range, introducing new 75% LTV products with £0 fee and £999 arrangement fee options. Rates for these now start from 4.79%.

“Lenders have an important role to play in supporting homebuyers and remortgagers during this difficult period and we urge all prospective homebuyers and remortgagers to seek advice now via a mortgage adviser, more than ever before,” said managing director of mortgages at MPowered, Emma Hollingworth.

“As the cost of living continues to squeeze finances, we see this as an important aspect of what we do and are delighted to be able to reduce our fixed rates today and will continue to do our utmost to keep these as low as we possibly can.”

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