Mpowered Mortgages has expanded its prime residential offering by launching 85% loan-to-value (LTV) mortgages.

The new 85% LTV range will be available across its prime residential products, which include two-, five- and 10-year fixed rates that come with cashback options, a free valuation, and rolling end dates.

Initial rates on the 85% LTV range start at 5.17% for 10-year fixed products, 5.39% for five-year fixed products and 5.85% for two-year fixed products.

All products in the range are available for purchases and remortgages on loan amounts up to £1.5m. The range also comes with no fee and £999 fee options.

MPowered Mortgages distribution director Emma Hollingworth says the launch of the new range is “testament to our commitment to the prime residential market”.

“Whilst rising mortgage rates and the increasing cost of living will impact the mortgage market, we are still seeing positive demand for mortgages and are delighted to have secured over £500 million of mortgage lending in the past six months.”

“We will continue to enhance our range to respond to the needs of homebuyers and remortgagers with the overall aim of improving the experience of buying a home using the power of technology and AI.”