Mpowered Mortgages has expanded its prime residential offering by launching 85% loan-to-value (LTV) mortgages.
The new 85% LTV range will be available on its prime residential products, which include two-, five-, and 10-year fixed rates with repayment options, free valuation, and rolling end dates.
Initial rates on the 85% LTV range start at 5.17% for 10-year fixed products, 5.39% for 5-year fixed products and 5.85% for 2-year fixed products.
All products in the range are available for purchases and mortgages on loan amounts up to £1.5m. The range also comes with no-cost and £999 fee options.
MPowered Mortgages Director of Distribution Emma Hollingworth said the launch of the new range “shows our commitment to the prime residential market”.
“While rising mortgage rates and the rising cost of living will impact the mortgage market, we continue to see positive demand for mortgages and are delighted to have secured over £500m from mortgage loans in the last six months.”
“We will continue to improve our lineup to meet the needs of homebuyers and mortgagers with the overall goal of improving the home buying experience using the power of technology and AI. “