MPowered Mortgages has cut its mortgage rates again marking the fourth rate cut in the month of August alone.
The reductions are focused on a number of core rates in its 2-, 3- and 5-year ranges, particularly those that are the most popular options with borrowers.
In its 2-year £999 purchase range, for example, all rates from 60% through to 80% loan-to-value (LTV) have been reduced, with rates now started from just 4.57%.
For remortgages, the reductions have focused on zero fee options, with a 5-year 60% LTV with Legal Fee Saver, now starting from just 4.30%.
This fourth set of rate reductions from MPowered in under a month now means that rates have been cut by up to 0.36% since the start of August.
Stuart Cheetham, CEO of MPowered Mortgages, said: “The UK mortgage market remains incredibly competitive, all of which is fantastic news for borrowers.
“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!”
