MPowered Mortgages has reduced its three-year fixed rate mortgages for new purchase and remortgage residential borrowers.

The lender has cut rates by up to 30 basis points (bps).

Its three-year new purchase rates now start at 4.19% at 60% LTV with a £999 fee and 4.36% at 60% loan to value (LTV) with no fee.

Stuart Cheetham, CEO of MPowered Mortgages, said: “Since the start of 2025, we are seeing some mortgage lenders reduce mortgage rates which will be welcome news for borrowers and we are happy to say that we are one of those lenders.

“For those borrowers looking to take advantage of current stamp duty tax relief at the higher thresholds before they are withdrawn at the end of March, now could be an attractive time to secure a mortgage offer.

“That said, we have seen swap rates increase in the past 24 hours which could mean that lenders begin to increase mortgage rates towards the end of the month so the window to secure current deals could be tight.”