Questions for borrowers
We know you might have questions about changes to MPowered. Find out what this change means for you.
What's happening with MPowered?
After 5:30pm on Tuesday 28 October, we’ll stop accepting new mortgage applications. At the same time, all our mortgage products, including product transfers, will be withdrawn from the market.
This change is part of MQube’s plan to focus solely on its AI-driven mortgage technology.
I have an application that hasn't been submitted yet or is still in progress.
Is MPowered still accepting new mortgage applications?
No. After 5:30pm on Tuesday 28 October, we will stop accepting new mortgage applications and all our products, including product transfers will be withdrawn.
Are product transfers available?
No. After 5:30pm on Tuesday 28 October, product transfers will no longer be available. At the same time, we will stop accepting new mortgage applications and all our products, including product transfers will be withdrawn.
I’ve recently submitted an application — what happens now?
We are still reviewing your application. If you want to carry on with MPowered, please send us any missing documents or respond to questions as quickly as possible – this will help us issue your offer before the deadline on Monday 10 November at 5:30pm.
You don’t have to carry on with your MPowered application. If you’d like to explore other options, please speak to your broker.
What’s the deadline for issuing offers?
We won’t be able to issue new offers after 5:30pm on Monday 10 November. Any offers made before this deadline will remain valid for 180 days from the date you applied.
What if my application isn’t ready by then?
We won’t be able to issue new offers after 5:30pm on Monday 10 November. If your application can’t be completed by this date, you should speak to your broker about other lender options.
Will my rate, product, terms, conditions or payments change?
No. Your interest rate, product, term, conditions, payments, and support will stay the same as they were when your application was submitted. We’ll let you know if anything changes.
Can I apply to another lender instead?
Yes. You’re free to look into other options with your broker.
Who can I contact with questions about these changes?
You should contact your broker for help with your case. If you can’t contact your broker, please contact us.
I have received a mortgage offer, but haven't completed yet.
I’ve received a mortgage offer — does this change anything?
No, nothing has changed. Your offer remains the same as they were in your original offer document, with the same product, rate, and expiry date.
Will my offer expiry date change?
No. Your offer expiry date remains the same and is valid for 180 days from the date you submitted your application.
Will my rate, product, terms, conditions or mortgage servicing change?
No. Your interest rate, product, terms and conditions will stay the same as they were when your application was submitted.
Will my mortgage still complete as planned?
Yes – we'll keep processing your application as normal, and our team is fully dedicated to getting you to completion.
Are product transfers available?
No. After 5:30pm on Tuesday 28 October, product transfers will no longer be available. At the same time, we will stop accepting new mortgage applications and all our products, including product transfers will be withdrawn.
Do I need to do anything now?
If you want to carry on with MPowered, keep moving your application forward as normal. Work with your solicitor and broker and send any missing information or documents quickly so you can complete before your offer expires.
What if I think I won’t complete before my offer expires?
Please reach out to our MPowered Max Team as soon as possible to discuss your options. You should also speak to your broker for further advice.
Can I switch to another lender?
Yes – if you haven’t exchanged, you can talk to your broker and look into other options.
Will customer service change?
No, our customer support will remain the same. If anything changes, we’ll let you know.
What happens after my mortgage completes?
Your mortgage will carry on as normal with no changes to your rate, terms, or payments. We’ll let you know if anything changes in the future.
Who can I contact with questions about these changes?
You should contact your broker for help with your case. If you can’t contact your broker, please contact us.
I have an existing mortgage with MPowered.
I already have an MPowered mortgage — will this change anything?
No, your current mortgage isn’t affected. Your rate, product, terms and conditions will stay the same as when you applied.
Will my mortgage be serviced differently?
Your mortgage will carry on as normal. If there are any changes in the future, we’ll let you know.
Will my payments or interest rate change?
No – your monthly payments and interest rate will stay the same as set out in your mortgage agreement.
Can I switch my mortgage at the end of the term?
You should contact your broker at the end of your fixed term to discuss your options.
Can I port my mortgage?
Please speak to your broker to discuss your options.
Can I get a further advance?
After 5:30pm on Tuesday 28 October, we’ll stop accepting new mortgage applications. At the same time, all our products – including product transfers and further advances – will be withdrawn.
Who can I contact with questions about these changes?
You should contact your broker for help with your case. If you can’t contact your broker, please contact us.