Product fees have been cut also, with the completion fee now at £900, so the total product fee is now below £1,000 on the range. The booking fee remains at £95.

The new products are all two year fixed rates at 75% LTV. There is a two year fixed rate for house purchase and remortgage at 3.69%, a two year fixed rate at 3.79% with £400 cashback for house purchase and remortgage and a two year fixed rate with refund of valuation and legal fees paid for remortgage only at 3.79%.

Re-mortgage package deals have also been introduced for fixed rate products, offering legal fees paid and refund of valuation, starting at 3.79%.

Cate Hillis, strategic development director at Accord, commented: “Following further reductions in swap rates, we are delighted to be able to pass on these cuts with rate reductions to our current products. We are confident that we are offering our partners some of the best deals currently available in the market with products available up to 85% LTV.”

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