MPowered Mortgages has made rate reductions across its suite of three and 10-year fixed products.

The fintech lender confirmed the reductions will apply to all products, including its products with no arrangement fees.

On its prime residential three-year fixed range, MPowered has reduced rates by up to 0.20% and they now start at 4.36%, placing the lender at the top of the sourcing tables for three-year fixes in loan-to-value (LTV) bands from 60% to 85% on purchases, and 80% to 85% on remortgages.

On its 10-year fixed range, the lender has significantly reduced rates by up to 0.70%, with rates now starting at 4.29%.

The latest changes follow MPowered’s recent move to reduce its two- and five-year fixed rates, and the announcement that it has increased its maximum loan-to-income (LTI) ratio to up to 5.5 times for employed applicants.

Managing director of mortgages at MPowered, Emma Hollingworth, commented: “We are delighted to continue reducing our rates across our products as part of our efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home. It is of course a positive sign to see reductions in rates, and we hope to continue to be able to support those looking to purchase or remortgage a property in this way.

“To every consumer in the process, seeking independent professional advice is particularly important at this time. Brokers can help borrowers access and understand the products best suited to them, allowing them to make an informed decision when it comes to their mortgage.”

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