MPowered Mortgages has made cuts to their fixed-rate mortgages. This move comes as lenders are battling it out to offer the best deals to customers.

The biggest winner is the three-year fixed-rate deal, which has been slashed to a super-low 3.75% for those borrowing at 60% Loan-to-Value (LTV). That means if you’ve got a 40% deposit, you could bag yourself an incredibly competitive rate. There is a £999 fee to be aware of though.

MPowered has also reduced rates across other popular mortgage products:

• Three-year fixed rates: Reduced across a range of LTVs, including 65%, 70%, 75% and 80%, making it even easier for those with smaller deposits to get on the property ladder.
• Two-year and five-year fixed rates: Selected products for both new purchases and remortgages have also seen reductions.

These price cuts mean that MPowered are now going head-to-head with the UK’s biggest lenders. Just last week, high-street giants Barclays and Nationwide launched their own low rate deals, with five-year fixes starting from 3.70%.

Stuart Cheetham, the boss at MPowered Mortgages, shared his excitement about the cuts: “We’re over the moon to be offering such competitive fixed rates. Our lowest rate now is just 3.75% for our three-year fixed at 60% LTV. Lower rates are good news for everyone looking for a mortgage right now. It’s always best to shop around and compare deals to find the mortgage that’s right for you.”

With interest rates this low, it’s a great time to explore your mortgage options, whether you’re a first-time buyer, moving up the property ladder or looking to secure a better deal on your current mortgage. Remember to seek advice from a qualified mortgage professional to find the right deal for your individual circumstances.