MPowered Mortgages has cut fixed rate mortgages by up to 0.22%. This is the third time the lender has cut rates in two weeks. Five-year fixed rates now start at 4.01%, three-year fixes at 4.19% and two-year fixes now start at 4.41% at up to 60% LTV with a £999 fee for new purchase customers. The lender has also reduced its SVR from 8.74% to 7.49%. The mortgage product which has seen the biggest fall since the base rate cut is the five-year zero fee purchase at 80% LTV, which has dropped by 0.57%.

Mansfield Building Society has appointed Claire Flanagan as its new business development manager for the South of England. She brings a background in financial services, Flanagan has worked in business development for the last six years. She joins the society from Quantum Mortgages in a sales role. She also worked in sales positions at Uinsure, as well as five years in a business development role at Nationwide Building Society. As part of her new role, Flanagan will work to work with brokers across the region, many of which she has worked with in previous positions.

Nationwide has increased its support for the new build sector by increasing the maximum LTV available for those looking to purchase a new build from 85% to 90%, providing further support for the housebuilding sector and the Government’s housing ambitions. The change means that potential buyers will be able to apply for a Nationwide mortgage on a new build house with a 10% deposit.

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