The broker-only arm of Yorkshire Building Society, Accord Mortgages, has launched a new mortgage deal at 0.99%.

This stonking rate is usually only offered to those borrowers with at least a 40% deposit, but what makes the Accord deal so unusual is that it’s accessible to more borrowers. The sub-1% deal is available to those with a more modest equity stake – just 20% upfront.

This is the lowest rate ever offered in this deposit bracket, according to financial information provider Moneyfacts.

The deal is only available to borrowers who use a mortgage broker and sister title Mortgage Solutions understands it will have limited funds – so you need to act quickly if you want to bag it.

The two-year 0.99% fixed-rate mortgage comes with a £1,495 fee on completion. It includes a free valuation and is available up to 80% of the property’s value.

Spokesperson for Accord, David Robinson, said: “We have a reputation for offering competitive rates. We’re really proud to launch this new deal as not only is it our lowest ever rate, it’s also one of the most competitive mortgages available across the market at present.

“This offer will not be around for long so anyone who is interested will need to act fast. We will give brokers 24 hours’ notice before we take the mortgage off-sale,” he added.