MPowered launches new purchase and remortgage rates from 3.89%

MPowered Mortgages has announced reductions to its fixed rate mortgages for the third time since the start of April.

Two-year fixed rate purchase mortgages at 60% LTV now start from 3.94% with a £999 fee and 4.19% with no fee.

Three-year remortgage rates now start from 3.89% with a £999 fee and 4.09% fee-free. This follows reductions across MPowered's three-year remortgage rates last week, which saw it introduce sub-4% products.

Five-year rates have reduced to 4.04% at 60% LTV with a £999 fee and 4.17% fee-free.

Stuart Cheetham (pictured), CEO of MPowered Mortgages, commented: "We are pleased to be cutting rates once again. Swap rates have continued to fall which has allowed us to offer even lower rates to our customers. 

"We have seen mortgage rates falling over the past few weeks or so making now an attractive time to get on the ladder. New lower rates will also bring welcome relief to those remortgaging. With further Base Rate rate cuts expected this year we may see rates come down a little further although much of this is already baked into current rates so securing a mortgage at today's rates could be a prudent move as then you can lock it in."