The move comes after updated regulatory guidance, which allows lenders to set lower stress rates.
Stress rates are used to ensure that borrowers are still able to afford their payments if interest rates rise in the future. They vary from lender to lender.
Accord Mortgages said the new affordability assessment model will apply to all new lending.
Jeremy Duncombe, managing director of Accord Mortgages, said: “Accord already offers market-leading innovation and flexibility to help borrowers overcome today’s affordability challenges, but we’re always looking for new ways of applying the common-sense approach we’re known for.
“We really welcome the regulator’s latest guidance on aspects like the stress interest rates we have to apply to our mortgage decisions.
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“We’ve been able to review our already-competitive affordability model in light of this, combined with changes in market and economic conditions, which means we can help even more people achieve their homeownership goals.”
Several lenders have changed their stress rates in the past few weeks, including NatWest, HSBC and Lloyds Banking Group.
