MPowered Mortgages has has further reduced rates across its two and three-year fixed products.

The rate reductions apply across its two and three-year fixed range, including both purchase and remortgage products, as well as products with no arrangement fees.

On its prime residential two-year fixed range, rates have been reduced by up to 0.68% and now start from 4.69%. Meanwhile, three-year prime residential products have seen reductions of up to 0.23% and now start at 4.46%.

MPowered has also extended its enhanced cashback offering across its two and three-year product ranges. Loans above £200,000 on its two, three and five-year fixed rates and two-year trackers are now eligible for £500 cashback on purchase applications and £1,000 on remortgages.

The new rates, along with its cashback boosted range, will show on all sourcing systems and online application systems from today. The cashback boost range can be found by filtering products to include ‘cashback’.

Emma Hollingworth, managing director of mortgages at MPowered Mortgages, said: “We are pleased to be announcing further rate reductions and increases to our cashback offering, giving customers even more value. We know there is a lot of uncertainty out there, so we hope that our new lower fixed rates with cashback will go some way to supporting and responding to borrowers’ needs.

“As always, we would urge borrowers to speak with a broker so they can work together to find the right product for them that meets their needs and circumstances.”