MPowered Mortgages has announced further rate reductions across its whole range of three-year fixed rate products.

Purchase rates start from 5.29% with a £1,999 arrangement fee, and 5.39% for a £999 arrangement fee, rates start from 5.39% and come with a £500 cashback for any borrowing over £200,000.

For those remortgaging, rates start at 5.30% with a £1,999 fee, 5.40% at £999 and come with a £1,000 cashback for anyone borrowing over £200,000.

Matt Surridge (pictured), director of sales at MPowered Mortgages, said: “At MPowered, we are looking to try and pass on rates reductions at every opportunity to our customers.

“In a market where choices can be difficult for brokers and their customers at present choosing between a short-term fixed rate and the security of a longer term fixed. MPowered is pleased to offer a new lower 3-year fixed range in what is proving an increasingly popular alternative that seeks to offer the best of both worlds.”

“MPowered is a broker only lender and we know that borrowers get the best advice going through brokers which is why we urge borrowers to seek independent professional advice in order to ensure they understand the products on offer and how they match up to their requirements.”