MPowered Mortgages has reduced rates across its residential fixed rate range on two-, three-, five-, seven- and 10-year products. 

The lender’s five-year fixed products for remortgages have seen reductions by up to 0.35% and now start at 4.89%. 

Rates on its five-year fixed products for purchase applications have seen reductions by up to 0.30% and now start at 4.94%. 

Seven-year fixed products have seen rates cut by up to 0.35% and now start at 4.89% while its 10-year fixed products have gone down by 0.14% and now start at 4.99%. 

Rates on its three-year fixed-rate products have seen reductions by up to 0.25% and now start at 5.09% while its two-year fixed products now start at 5.19%, having been reduced by up to 0.44%.

The lender says this is the fourth time it has lowered its rates since the mini budget in September. 

MPowered Mortgages chief executive Stuart Cheetham says: “As a smaller fintech lender who is focused on speeding up the mortgage journey for homebuyers using the power of smart technology and artificial intelligence, we will continue to try and keep rates as low as we possibly can.”  

Last week, MPowered lowered rates across its two- and three-year fixed ranges.