MPowered Mortgages has reduced rates on its residential two-year fixed 80% and 85% LTV ranges, as well as its three-year fixed 75% LTV products.

On its prime two-year fixed products at 80% LTV, the lender has reduced rates by up to 0.10%. Rates now start from 4.94%.

Its two-year fixed products at 85% LTV have also seen reductions of up to 0.05%, and now start at 4.99%.

Rates on its £999 arrangement fee three-year fixed product have also been reduced by 0.07%, and now start at 4.77%.

All applications come with a free valuation, with remortgage applications also benefitting from £500 cashback on completion.

Emma Hollingworth, managing director of mortgages at MPowered Mortgages, said: “We are delighted to be able to offer homebuyers and remortgagers reduced rates across our two and three-year fixed products. As economic uncertainty persists into the new year, we continue to see it as a priority to provide as much financial relief as possible for those looking to buy a home or remortgage in the current climate.

“For both buyers and remortgagers, it is important to gain a comprehensive understanding of the mortgage products available to them in order to determine the one that best suits their individual circumstances. In this landscape, we’d always recommend working with a mortgage broker to ensure most appropriate solution is opted for.”