MPowered Mortgages has launched a range of three- and seven-year fixes for purchase and remortgage.

Both are available at up to 85% LTV, with the three-year range starting at 5.44% and the seven-year range beginning at 5.24%.

All the new products come with a free valuation and an option for zero arrangement fees, with the remortgages coming with £500 cashback.

MPowered managing director of mortgages Emma Hollingworth comments: “Offering homebuyers and remortgagers more options with competitive rates at a time when choosing a mortgage has never been so tough is crucial. This is why we are expanding our range of fixed rate products.”

Earlier this month, the lender cut its fixed rates by up to 76 basis points.