For borrowers with a 10% deposit, Accord has reduced rates by up to 0.3% for those looking to fix for five years. Two-year products have been reduced by 0.25%.

Accord, part of the Yorkshire Building Society group, offers its products exclusively through mortgage brokers and financial advisers.

The lender has also reduced mortgage fees from £845 to £345 on both its three- and five-year products up to 80% loan-to-value. A three-year 65% LTV fix has also seen fees cut by a similar amount.

Elsewhere in the range, Accord’s three-year 85% LTV products will be reduced by up to 0.1%.

However, it is not all good news for borrowers with Accord increasing rates on a number of other products. These increased rates are across its five-year product range.

Your Mortgage recently reported how many homeowners taking advantage of high house prices by releasing cash from their home.

In July the typical remortgage loan topped £170,000 for first time, with the loan size rising 2% compared to the previous month. Rising property prices across much of the country meant the average value of a remortgaged home was £300,898 – the highest level for nine months.