Accord Mortgages will cut selected residential and buy-to-let rates tomorrow, including substantial reductions on high loan-to-value deals.

The lender will be lowering 95% LTV products as well as its £5,000 Deposit Mortgage for first-time buyers at up to 99% LTV by 18 basis points.

A two-year fixed residential purchase product at 95% LTV with a £495 fee will fall from 6.33% to 6.15%.

It comes with standard valuation and £500 cashback for first-time buyers.

A fee-free five-year fixed £5,000 Deposit Mortgage will reduce from 6.52% to 6.34%.

For landlords, a ttwo-year fixed remortgage at 80% LTV with a £995 fee and £250 cashback will decrease by 12bps, from 5.89% to 5.77%.

A five-year fixed remortgage at the same LTV with a £995 fee and £250 cashback will be cut by 9bps, from 5.75% to 5.66%.

Accord Mortgages managing director Jeremy Duncombe says: “These latest rate cuts will help brokers to help their clients with a smaller deposit to take a step towards home ownership, while providing landlords with more competitive options when buying or remortgaging a buy-to-let property.”