MPowered ups cashback on 5-year products, cuts rates on 2-year fixes


MPowered Mortgages has increased cashback on five-year products and reduced rates on two-year fixed products.

Across all five-year fixed products, cashback has been boosted by £500.

This brings the total cashback reward to £1,000 on every remortgage case, and £500 on every purchase case.

Loans are available from £200,000 up to £1.5m, with rates starting from 4.13%.

Meanwhile, MPowered Mortgages has now simplified its prime two-year fixed products with one rate up to 85% loan-to-value (LTV), on its £0 fee, £999 fee and £1,999 options.

Rates now start from 4.64% for purchase cases on £1,999 fee products, down from 5.13% while for £999 fee cases rates now start from 4.74% and 4.90% for £0 fee purchase options.

The lender has also reduced its two-year remortgage fixed rates.

For a two-year fixed product without an arrangement fee, rates now start at 5.04% for remortgage products at 85% LTV.

Remortgage products with a £999 arrangement fee and £1,999 arrangement fee respectively have been reduced to 4.94% and 4.84% respectively.

MPowered Mortgages managing director of mortgages Emma Hollingworth comments: “With the ongoing uncertainty in the mortgage market, it is important we continue to support consumers during the process of making one of the biggest and most impactful financial decisions of their lives.”

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