MPowered Mortgages takes 75bps off its SVR

Published on

MPowered Mortgages has reduced its SVR by 75 basis points (bps) from 7.49% to 6.74%.

Its SVR tracks Bank of England Base Rate, so as well as the 25bps cut to the Bank of England Base Rate being passed on following last week’s Bank Rate decision by the central bank’s Monetary Policy Committee, MPowered has also lowered the tracker margin by a further 50bps.

The result is that MPowered’s SVR now tracks BBR at +1.99%.

Stuart Cheetham, CEO of MPowered Mortgages, said: “Although SVRs can often move up or down in line with changes to the Bank of England base rate, not all lenders pass on the full amount of any decrease (or increase for that matter) in the base rate to their SVR.

“We, however, are pleased to not only pass on the full Bank Base Rate reduction but also an additional 0.50% [sic] cut to fully support borrowers in the market.

“any future rates will be passed on”

“Additionally, our SVR, by tracking Bank Base Rate, is fully transparent to consumers and will mean any future rates will be passed on.

“As always, mortgage borrowers nearing the end of their mortgage deal should always seek independent financial advice so that they can make informed choices about what to do next.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Mortgage rates surge and product choice shrinks as Iran conflict jolts market

New data from Moneyfacts shows the impact of the Iran conflict has been both...

Advisers told to tighten processes as rate volatility squeezes mortgage options

Advisers are being urged to sharpen their processes as lenders continue to withdraw products...

Conveyancer shortage threatens to slow homebuying process

Falling conveyancer numbers and rising transaction volumes are increasing pressure on the homebuying process,...

Sesame rolls out OneView adviser platform to bring core tools into one system

Sesame has launched a new web-based adviser platform, OneView, designed to bring core tools,...

SortRefer reports record month as March instructions rise 16%

SortRefer said March 2026 was its strongest month on record, with overall instructions up...

Latest publication

Other news

Mortgage rates surge and product choice shrinks as Iran conflict jolts market

New data from Moneyfacts shows the impact of the Iran conflict has been both...

Advisers told to tighten processes as rate volatility squeezes mortgage options

Advisers are being urged to sharpen their processes as lenders continue to withdraw products...

Conveyancer shortage threatens to slow homebuying process

Falling conveyancer numbers and rising transaction volumes are increasing pressure on the homebuying process,...