Accord has made rate cuts across its residential range, with the most significant taking place among products aimed at first-time buyers (FTBs).

The lender’s 95% LTV five-year fix with zero fee sees the biggest change, with a 64 basis point reduction taking its rate to 5.06%.

This product is available for borrowers using the deposit unlock scheme and comes with £250 cashback and a free standard valuation.

Additionally, the 90% LTV two-year fix with zero fee with £500 cashback and free standard valuation for remortgage purposes only has received a 60 basis point cut, taking its price to 5.61%, and the 90% LTV two-year fix for home purchase had been cut by 43 basis points, to 5.04%.

The latter product charges a £995 fee, comes with £500 cashback and a free standard valuation.

The lender has also lowered rates by up to 45 basis points for 60% LTV products and by 48 basis points for products at 75% LTV and 80% LTV.

Accord mortgage product manager Gemma Hyland says: “Due to changes in market conditions driving falling swap rates, we’re reacting quickly and taking the opportunity to review our product range, to offer brokers and their clients better value.”