The changes came into effect today on residential mortgages at 85 per cent LTV to 95 per cent LTV.
According to the lender, 10 products had their rates cut. Highlights include the rate change to its two-year fixed at 85 per cent LTV for house purchase and remortgage, which has been cut by 0.08 per cent to 2.37 per cent. The product comes with a £995 fee, £300 cashback and free standard valuation.
The rate for its two-year fixed at 90 per cent LTV, available for homebuyers only, has been reduced by 0.08 per cent to 3.22 per cent. The product comes with a £495 fee, £750 cashback and free standard valuation.
For its two-year fixed for homebuyers at 95 per cent LTV the rate has been cut by 0.01 per cent to 3.69 per cent. It comes with a £995 fee, £750 cashback and free standard valuation.
The lender also increased the cashback available on three of its 95 per cent LTV mortgages by up to £750.
Accord Mortgages mortgage manager Jemma Anderson (pictured) said: “We’ve made changes to our range at higher LTVs to give brokers supporting borrowers with smaller deposits more competitive choice.
“We’re pleased to be delivering better value to those choosing our smallest deposit mortgages, and with many potentially being first-time buyers, we’re sure the increased cashback will be welcome to help with the upfront costs associated with buying a home.”