Accord has made rate cuts across its residential mortgage range.

The lender, which is the broker-facing arm of Yorkshire Building Society, said it is chopping rates by up to 0.36 percentage points on 90% mortgages for borrowers with a 10% deposit.

It is also reducing the cost of 95% mortgages for buyers with just a 5% deposit by up to 0.24 percentage points.

Rates for borrowers with a larger deposit have also been cut, by up to 0.15 percentage points.

New products launched

Accord has also launched new 80% loan-to-value (LTV) products for homebuyers and remortgagors with a 20% deposit, including fee-free options.

The new deals and the lower rates include:

• A five-year fixed rate up to 80% LTV at 4.74%, available for remortgage clients, with a £495 product fee, £250 cashback, remortgage legal service and free standard valuation
• A fee-free two-year fix to 80% LTV at 5.62%, which comes with free standard valuation and £500 cashback, available for home purchase
• A five-year fix to 90% LTV, available for new-build houses, at 5.30%, down from 5.66%, with free standard valuation, a product fee of £495 and £250 cashback
• A 95% LTV five-year fix reduced to 5.30% (was 5.54%), with a £495 completion fee and £750 cashback, available for home purchase.

Mortgage product manager at Accord, Gemma Hyland, said: “Having reviewed market conditions following the Christmas break, we’re taking the opportunity presented by falling market interest rates to reduce our product rates again, as well as introducing a new suite of products at 80% LTV, offering brokers and their clients even better choice and value.

“We hope that reducing rates across LTVs will support a variety of borrowers, especially in the current environment, where people are really struggling when it comes to controlling their costs, no matter where they are in their homeownership journey.”