Reducing rates by up to 0.23% in the 90% LTV tier, Accord has launched three fixed-rate mortgages all aimed at first-time buyers.

It is offering two, two-year fixed-rates, the first of which carries a 2.24% rate with a £995 fee which is available to both remortgage and house purchase customers. The second carries a slightly higher 2.32% rate and also comes with a £995 fee, but offers £250 cashback on completion and a free standard valuation for purchase customers.

For longer-term customers it has also launched a five-year fix at 2.96%, which also carries a £995 fee. This mortgage is available with free standard valuation and free legal fees for remortgaging borrowers, plus £250 cashback on completion and free standard valuation for house purchase customers.

“We recently removed our mortgage application processing fee, which gives brokers and their clients the assurance that no product fees need to be paid until the mortgage has completed,” said Jemma Anderson, mortgage product manager for Accord Mortgages.

“We hope this, plus the option of added incentives on our 90% LTV mortgages, will help to reduce the upfront costs for first-time buyers looking to get a foot on the property ladder.”

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