MPowered Mortgages has announced that its prime residential mortgage criteria will be available on Legal & General Mortgage Club’s SmartrCriteria search tool. 

Broker partners of MPowered Mortgages, who are part of the limited distribution for its prime residential mortgages and members of Legal & General Mortgage Club, will benefit from the new development.

The prime residential criteria will consider drawings from the latest years’ accounts for self-employed limited company directors, and the latest years’ net profits for sole traders and partnerships. 

It will also accept gifted deposits and has a £1.5m maximum loan size. 

MPowered Mortgages’ current residential product range includes two-, five-, seven- and 10-year fixed rate mortgages and a £500 remortgage cashback range. 

Products include a free valuation on every application and a choice of no arrangement fee options. Interest rates currently start at 3.27%.

MPowered Mortgages distribution director Emma Hollingworth says: “With interest rates and the cost-of-living increasing at pace, it is vital that brokers have the tools to secure mortgages for their customers as quickly and efficiently as possible. We look forward to working with Legal & General Mortgage Club to improve the mortgage journey for both brokers and customers.”