MPowered Mortgages Cuts Fixed Mortgage Rates: A Welcome Relief for Borrowers
As the mortgage market continues to evolve, lenders are constantly looking for ways to stay competitive and attract new customers. In a move that is likely to be welcomed by borrowers, MPowered Mortgages has reduced its fixed mortgage rates across its 2- and 5-year fixed rate ranges.
New lower rates for borrowers
The new rates start from 4.37% (down from 4.59%) for the 5-year range, and at 4.67% (down from 4.84%) for the 2-year fixed rate purchase mortgage with a £999 fee. This reduction in rates is a significant move, and one that is likely to have a positive impact on the mortgage market as a whole.
Following the Bank of England decision last Thursday to hold rates, swaps rates have fallen on the anticipation that rate cuts, which whilst not necessarily imminent, are now seemingly ’nailed on’ for later in the summer and that the UK and US interest rate policy is now increasingly likely to diverge. - Matt Surridge, Sales Director of MPowered Mortgages
The Bank of England’s decision to hold rates has had a ripple effect on the mortgage market
In a market that is constantly changing, it’s refreshing to see a lender taking proactive steps to pass on savings to borrowers. As Matt Surridge, Sales Director of MPowered Mortgages, notes, “The swap markets are moving at pace at present and it is important that as a responsible lender we are able to react and pass on any savings we can to borrowers.”
Borrowers looking to take advantage of these new rates should seek independent professional advice
This reduction in rates is a welcome relief for borrowers, who have been facing increasing costs in recent months. As the mortgage market continues to evolve, it’s clear that lenders like MPowered Mortgages are committed to providing competitive rates and supporting borrowers in their journey to homeownership.
A dream of homeownership is now more achievable with lower mortgage rates
In conclusion, the reduction in fixed mortgage rates by MPowered Mortgages is a positive move for the mortgage market, and one that is likely to have a positive impact on borrowers. As the market continues to evolve, it’s clear that lenders are committed to providing competitive rates and supporting borrowers in their journey to homeownership.
