MPowered Mortgages has reduced rates for the fourth time in August!

This means cheaper deals on two-year, three-year, and five-year fixed-rate mortgages. So, if you’re looking to buy or remortgage, now could be a great time to secure a lower rate.

What are the new rates?

Here’s a breakdown of the reductions:

Two-year fixed-rate mortgages:

• Rates have been cut on all loans from 60% to 80% loan-to-value (LTV).
• Rates now start from a competitive 4.57% for those borrowing £999.

Three-year fixed-rate mortgages:

• Similar reductions apply to three-year fixes for those with a 65% to 80% LTV.

Five-year fixed-rate mortgages:

• For those looking to remortgage, there’s excellent news on the five-year fix at 60% LTV.
• You can now grab a rate of just 4.30%, and there are even options available with no fee and legal fees included.

What’s behind these cuts?

MPowered Mortgages is committed to offering competitive rates, and these cuts reflect their dedication to providing value to borrowers.

Stuart Cheetham, CEO of MPowered Mortgages, explains that rates have dropped by up to 0.36% in the past month alone. He highlights that the company is focused on offering competitive pricing across the entire LTV range, specifically at 5% intervals.

Should I fix my mortgage now?

While no one can predict the future of the mortgage market, Cheetham suggests that rates might not change dramatically in the short term. The Bank of England is unlikely to cut the base rate in September, and any potential future cuts are already factored into current mortgage rates.

This latest round of rate cuts offers some welcome relief for borrowers. If you’re considering a new mortgage or remortgage, it’s definitely worth exploring the latest deals available.