The fintech lender says its prime residential three-year fixed-rate products, rates now start at 4.36% at loan-to-value ratios ranging from 60% to 85% on purchases, and 80% to 85% LTV on remortgages. A reduction of up to 20bps. 

On its 10-year fixed-rate range, the firm has cut rates by up to 70bps, with rates starting at 4.29%. 

These rate reductions apply to all products, including those with no arrangement fees, with all applications receiving a free valuation.  

Remortgage borrowers receive £500 cashback on completion. 

Earlier this month, the business cut rates across its suite of two- and five-year fixed-rate products by up to 31bps and lifted its maximum loan-to-income ratio to 5.5 times income in certain cases.     

MPowered Mortgages managing director of mortgages Emma Hollingworth says: “We are delighted to continue reducing our rates across our products as part of our efforts to meet the needs of homeowners and buyers during what is a challenging time to purchase or remortgage a home. 

“It is of course a positive sign to see reductions in rates, and we hope to continue to be able to support those looking to purchase or remortgage a property in this way.”