MPowered Mortgages cuts three-year fixed rates to 3.88% 

MPowered Mortgages has cut its three-year fixed rate mortgages, marking the fourth round of rate reductions since the start of April.

Available from tomorrow, for new purchase customers, three-year fixed rates now start at 3.88% up to 60% LTV with a £999 fee and 4.08% with no fee.

This follows recent reductions across MPowered's purchase and remortgage ranges last week.

Peter Stimson (pictured), head of product at MPowered Mortgages, commented: "We are delighted to be cutting rates once again and believe our three-year fixed rates offer outstanding value in the market at present. 

"Borrowers need to be aware that current mortgage deals might not be around for long as swap rates are now rising as tariff deals are now being struck, starting to allay some of the recessionary fears that were priced into the swap curves. We would urge borrowers to speak to a broker and secure a deal as soon as they can if they want to benefit from current rates."