MPowered Mortgages has cut its mortgage rates for the fourth time in August across core rates on two-, three- and five-year fixes.

On two-year £999 purchases all rates from 60% through to 80% loan-to-value (LTV) have been reduced, with rates now starting from just 4.57%.

On three-year £999 purchases all rates 65% to 80% LTV have also been reduced.

For remortgages, the focus is on £0 fee options with five-year 60% LTV £0 fee with Legal Fee Saver, now starting from just 4.30%.

MPowered Mortgages chief executive officer Stuart Cheetham says: “At MPowered, this is the fourth consecutive week that we have reduced our rates, with rates coming down by up to 0.36% over the past month. Our focus remains on providing value across the LTV range by pricing at 5% LTV intervals.”

“Looking ahead, overall, we don’t expect any significant changes in mortgage rates in the short term given that a September cut in Bank Base Rate now seems unlikely and future potential cuts are already priced into the swap curve. However, this market is nothing but unpredictable.”