MPowered Mortgages has made rate reductions to fixed mortgages.

The lender says these come in response to a sharp fall in swap rates following President Donald Trump’s tariff announcement.

For new purchase customers two-year fixed rates now start at 4.05% at 60% loan-to-value (LTV) with £999 fee and at 4.29% with no fee.

Meanwhile, three-year fixed rates now start at 4.04% at 60% LTV with a £999 fee and 4.15% with no fee.

Five-year fixed rates now start at 4.14% at 60% LTV with a £999 fee and 4.28% with no fee.

MPowered Mortgages chief executive officer Stuart Cheetham says: “Since Trump announced the “Liberation Day” tariffs we have seen a sharp fall in the swap rates which has enabled us to reduce our fixed rate mortgage rates.”

“Whilst these tariffs could have a detrimental impact on the UK economy with increased prices putting extra strain on UK households, there is a silver lining for mortgage borrowers who will see rates come down over the coming week.”

Elsewhere, LendInvest Mortgages has cut rates by 20 basis points on its five- and seven-year fixed term buy-to-let (BTL) products.

The rate reduction covers the entire suite of five- and seven-year BTLs along with bridge-to-let products.

LendInvest director of sales Paula Mercer states: “At LendInvest, we’re dedicated to equipping our clients with sharp rates and adaptable solutions, empowering their property investment ambitions.”

“This rate adjustment on our five- and seven-year underscores our commitment to bolstering the BTL sector and offering landlords appealing funding choices, no matter the size of their portfolio.”

“We can also appreciate that today’s modern property investor is looking to save time and money, and that’s why we have revamped and updated our product transfer process, allowing a seamless transition from an existing BTL product to a new one.”