Accord Mortgages is expanding its range of residential mortgages up to 90% of the property’s value, providing a wider selection of options for borrowers with a smaller deposit.

The broker-only arm of Yorkshire Building Society will reintroduce two and three-year products at 90% loan-to-value (LTV).

The lender has also reduced rates across the board, including cuts of up to 0.30 percentage points at 85% LTV, and 0.20 percentage points at 90% LTV.

What’s new?

Highlights of the new range include:

• A two-year fixed rate of 5.17% up to 90% of the property’s value, which comes with a £995 fee, £500 cashback and free standard valuation, available for house purchase
• A three-year fix at 5.00%, up to 90% of the property’s value for remortgage clients, which comes with a £995 fee, £250 cashback, remortgage legal services and free standard valuation
• A three-year fixed rate of 4.90% (was 5.20%) up to 85% of the property’s value, available for those remortgaging, which comes with a £995 fee, £250 cashback, remortgage legal service and free standard valuation
• A five-year fix at 4.47% (was 4.62%) available up to 75% of the property’s value, which comes with a £995 fee, for both house purchase and remortgage.

Gemma Hyland, Accord’s mortgage manager, said: “We’ve reviewed our product range and are now in a position to add shorter-term deals at 90% LTV, offering additional options to borrowers with smaller deposits who may wish to fix for a shorter period, due to market uncertainty or personal circumstances.

“We’ve decided to reduce rates across the board after continuing to carefully monitor market conditions, to ensure we’re offering the most competitive value.

“I’m sure these changes will be welcome news to brokers and their clients.”