MPowered Mortgages has reduced rates across its suite of five-year fixed products, and announced new five-year mortgage products at 80% LTV.

On its prime five-year fixed products with a £0 arrangement fee, the lender has reduced rates by up to 0.65 percentage points. Rates now start from 4.59%.

Rates on its £999 arrangement fee five-year fixed products have also seen reductions of up to 0.50 percentage points, and now start at 4.49%.

MPowered Mortgages’ new five-year fixed rates at 80% LTV offer loans up to £1.5 million and start from 4.64%.

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: “Despite the ongoing cost-of-living crisis, we are delighted to be able to offer homebuyers lower rates across our five-year fixed products. Being able to offer borrowers a level of financial respite will go a long way to easing some anxiety during this festive period.

“For buyers and remortgagers who want advice navigating the ever-changing product landscape, we recommend working with a mortgage broker in order to gain a comprehensive understanding of the mortgage product best suited to their individual circumstances.”