The deal, which is available from Monday, is available to homeowners and remortgagors with a 35% deposit and comes with a £995 product fee.

Accord hopes the product will support borrowers during uncertainty over the future direction of the Bank of England Base Rate.

Ben Merritt, mortgage product manager at Accord, said: “The current period of record-low interest rates gives borrowers the opportunity to maximise the money they save on their monthly repayments by overpaying on their home loan. Our new tracker allows them to do this with the reassurance that they are not incurring any charges and can switch product at any time without having to pay ERCs – that could be particularly appealing should the Base Rate creep up.”

Accord has also launched two new short-term fixed rate deals. These include a two-year fix at 1.32% at 65% loan-to-value (LTV), and a 1.62% two-year fix at 85% LTV.

Both mortgages are available to house purchase and remortgage customers and come with a £1,495 product fee plus free standard valuation.

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