Beginning 12 January, the maximum new build LTV will rise from 85 per cent to 90 per cent , and for other flats the maximum LTV will go up from 90 per cent to 95 per cent .

Accord also said it would offer new mortgage deals for new-build flats including a two-year fixed rate at 90 per cent LTV with a 2.85 per cent rate and a five-year fixed rate at the same LTV with a rate of 3.11 per cent. 

Both mortgages come with a £495 fee, £250 cashback and free standard valuation.

Nicola Alvarez, senior manager for new propositions at Accord Mortgages, said: “We’re committed to helping brokers support their clients with options suited to a range of needs” and that raising the LTV would expand competition.

“Remortgagers wanting a higher LTV or first-time buyers and those restarting on the property ladder who may have been squeezed out of the house purchase market as a result of excessive house price inflation recently, could benefit,” she said. 

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Accord said it had also cut select rates across other LTV ranges by up to 0.3 per cent at 95 per cent LTV, up to 0.17 per cent at 85 per cent LTV and up to 0.05 percent at 80 per cent LTV.