MPowered Mortgages has reduced its three-year fixed rate range available to new borrowers.

Its lowest fixed rate is now its new 3.75% deal at 60% LTV with a £999 fee.

MPowered offers two, three and five-year fixed rates for new borrowers and remortgagers.

Three-year fixed rates for new purchase borrowers have been cut across LTV bands including 60%, 65%, 70%, 75% and 80%. Further cuts have also been made to select two and five-year fixed rates for both remortgage and new purchase customers.

Stuart Cheetham, CEO of MPowered Mortgages, said: “We are delighted to be offering such a competitively priced fixed rate range. Our lowest rate as of today is our three-year fixed at 60% LTV with a £999 fee at just 3.75%.

“Further cuts to fixed rates can only be good news for mortgage borrowers. Borrowers should always seek advice so that they find the best deal that meets their needs and based on true cost.”