MPowered Mortgages has made rate reductions across its fixed rate range.

Three-year fixed rates now start at 4.59% (down from 4.67%) at 60% LTV with a £999 arrangement fee. For those not wanting to pay an arrangement fee, rates start from 4.79% (down from 4.87%) on a 60% LTV and 4.89% (down from 4.99%) for those on a 75% LTV.

For remortgagers, three-year fixed loans now start at 4.49% (down from 4.59%) at 60% LTV with a £999 arrangement fee. Without an arrangement fee, rates start from 4.69% (down from 4.89%) on a 60% LTV, rising to 6.09% (down from 6.19%) for those on an 85% LTV.

For purchasers looking for a two-year fixed loan, rates now start at 4.84% (down from 4.95%) at 60% LTV with a £999 arrangement fee. For those not wanting to pay an arrangement fee, rates start from 5.07% (down from 5.17%) on a 60% LTV and 5.19% (down from 5.29%) for those on a 75% LTV.

For remortgagers, two-year fixed loans rates start on the no arrangement fee options from 5.15% (down from 5.24%) on a 60% LTV, rising to 5.25% (down from 5.39%) for those on a 75% LTV.

Matt Surridge (pictured), sales director of MPowered Mortgages, said:   ”Mortgage rates have been increasing in recent weeks, but we think we have hopefully now seen the end of this. Rising rates have primarily been in response to predictions around the timing and extent of Bank of England rate cuts and given that inflation has proven to be rather stubborn, the date of the first expected cut has been pushed out to the summer months.

“Whilst we can expect some level of volatility in mortgage rates in the coming weeks, there are positive signs that rates will start coming down in the not too distant future. We are pleased to be one of the first lenders that is able to reduce rates which goes against the current trend which is seeing multiple high street banks and lenders increase rates.”