MPowered Mortgages has announced immediate reductions to their 3-year fixed mortgage rates amidst an unstable financial environment. Here are the key changes and implications for borrowers.
- Customers seeking new purchases can now access rates starting from 3.93% at 60% LTV with a standard fee.
- Remortgage clients will find their rates commencing at 4.08% at the same LTV ratio and a similar fee structure.
- The decision comes as market anxieties heighten due to potential fiscal policy changes and rising swap rates.
- A strong emphasis is placed on the necessity for independent financial advice in these uncertain times.
MPowered Mortgages has implemented immediate reductions in their 3-year fixed mortgage rates, a strategic move reflecting the current unpredictable market conditions. New purchase customers will benefit from rates starting at 3.93% for a loan-to-value (LTV) of 60%, accompanied by a £999 fee. Similarly, remortgage clients will now see starting rates of 4.08% at the identical LTV, with the same fee applicable.
These adjustments are positioned against a backdrop of increasing swap rates, which influence the pricing of fixed-rate mortgages. Stuart Cheetham, CEO of MPowered Mortgages, expressed that the reductions are aimed at maintaining competitiveness despite the uncertain economic climate. The looming fiscal uncertainties, particularly surrounding potential unfunded tax cuts proposed by Rachel Reeves, have already prompted upward shifts in rates by other lenders.
Cheetham notes the critical importance of seeking independent financial guidance during these challenging times, as the market remains volatile and developments continue to unfold. As lenders navigate these turbulent waters, borrowers stand to benefit from scrutinising their options carefully, ensuring their decisions are well-informed.
MPowered Mortgages’ rate cuts present timely opportunities amid fiscal uncertainties, urging borrowers to seek professional financial counsel.
