MPowered Mortgages has reduced rates across its five-year fixed products.

On its prime five-year fixed products with a £0 arrangement fee, rates have been reduced by up to 0.65%, and now start from 4.59%. 

Rates on its £999 arrangement fee five-year fixed products have also seen reductions of up to 0.50%, and now start at 4.49%.

The lender has also announced new five-year mortgage products at 80% loan-to-value (LTV).

The new five-year fixed rates at 80% LTV offer loans up to £1.5m and start from 4.64%.

All applications come with a free valuation, with remortgage applications also benefitting from £500 cashback on completion.

MPowered Mortgages managing director of mortgages Emma Hollingworth comments: “Despite the ongoing cost-of-living crisis, we are delighted to be able to offer homebuyers lower rates across our five-year fixed products. Being able to offer borrowers a level of financial respite will go a long way to easing some anxiety during this festive period.”