The FinTech mortgage lender using AI to simplify the mortgage journey for homebuyers and re-mortgagers, MPowered Mortgages, has recently expanded its prime residential offering with the launch of 85% LVT mortgages.

This means that the mortgage lender giant will be offering its 85% LVT range across its suite of prime residential products, which includes 2,5, and 10-year fixed rate products that boast cashback options and a free valuation on every application.

All-in-all, residential products also benefit from rolling end dates, which allow homebuyers and re-mortgagers to benefit from fixed mortgage payments for the full fixed period, irrespective of their completion date.

Emma Hollingworth, distribution director, MPowered Mortgages, comments: “The launch of our 85% LTV range is a testament to our commitment to the prime residential mortgage market and widening access to our mortgages to help more borrowers benefit from our AI-driven technology which is focused on both simplifying the mortgage journey and eliminating stress from the process. We’re aware of the barriers homebuyers and homeowners face as the cost of living continues to rise, and we want to continue to respond to the needs of homebuyers and homeowners during these challenging times.”

“Whilst rising mortgage rates and the increasing cost of living will impact the mortgage market, we are still seeing positive demand for mortgages and are delighted to have secured over £500 million of mortgage lending in the past six months. We will continue to enhance our range to respond to the needs of homebuyers and re-mortgagers with the overall aim of improving the experience of buying a home using the power of technology and AI,” she concludes.

Products with purpose

The initial rates on the 85% LVT range start at 5.17% for 10-year fixed products, 5.39% for 5-year fixed products, and 5.58% for 2-year fixed products.

All products on offer in the range are available for purchases and re-mortgages on loan amounts up to £1,500,000, not to mention that the product range benefits from both no-fee and £999 fee options.

The 58% LVT products can be available to MPowered Mortgages’ 5,500-strong network of brokers who have access to its prime residential range, which is presently obtainable via limited distribution.

Brokers are assisted by MPowered Mortgages’ AI and data-driven platform which is focused on making the mortgage application process seamless and more certain.