Hi @ikrashmaster
What is the model number of the iron?
It could be a faulty heater element, faulty thermostat or perhaps a faulty temperature control.
The iron would have to be open and checked to find out what's wrong.
Looking online for spare parts suppliers for Morphy Richards irons, if you do find the problem and it is a faulty part that needs replacing then you may have difficulty getting the part as it seems that not all the parts of the iron are available as spares.