MPowered launches new sub-4% mortgage rates in latest round of cuts

MPowered Mortgages has made further cuts to its mortgage range which see rates come down by up to a further 0.10%. 

New customers will benefit from cuts to the lender's three-year fixed rate range which now starts from 3.91% at 60% LTV with a £999 arrangement fee, whilst further rate cuts apply to LTVs up to and including 80% LTV. 

Changes have also been made to the lender’s remortgage cashback mortgage range with all two, three and five-year fixed rates reduced by 5bps across all LTV bands. 

The remortgage cashback option now comes with a lower rate and a £250 cashback payable on completion.  

Stuart Cheetham, CEO of MPowered Mortgages, said: "Despite no reduction in the base rate last week, we are still reducing our rates today which is great news for borrowers and will help to stimulate the housing market.

"As well as reducing our three-year offering we’ve also taken the opportunity to align our legal fee saver and cashback mortgage remortgage rates by now offering the same great rates on both products. This means all borrowers now have to decide is whether to take the legal fee saver package or the cashback one."