Accord Mortgages will cut its £5K Deposit Mortgage product for first-time buyers by 45 basis points to 5.79%, among a range of other reductions.

Yorkshire Building Society’s broker-only lender has reduced rates on mortgages for borrowers with a 5% deposit by up to 55bps, with cuts of up to 44bps on products on new build properties up to 90% loan-to-value.

Deals at 75% and 80% LTV reduce by 32bps, with those at 85% LTV reducing by up to 30bps.

Highlights include:

• Five-year fixed rate £5K Deposit Mortgage fixes at 5.79%, from 6.24%, with no fee and a free standard valuation
• Two-year fixes up to 90% LTV, for borrowers purchasing a new build house at 5.33%, from 5.55%, with a £995 fee, £250 cashback, and a free standard valuation
• Five-year fixes up to 75% LTV, at 3.99%, from 4.30%, for house purchases, with a £1,995 fee, £250 cashback and a free standard valuation

Meanwhile, YBS Commercial Mortgages launches reductions for landlords.

The mutual’s commercial loans unit has trimmed 5bps off its buy-to-let product range, bringing five-year fixes to 4.95% on loans over £1m, up to 65% LTV, with a 3% fee.

For houses in multiple occupancy or holiday let purchases, rates are also trimmed by 5bps, with five-year fixes suitable for holiday lets up to 75% LTV, at 5.60%, with a 2% fee.

The lender also offers loans of up to £5m and designed specifically for part-residential, part-commercial assets, with rates of 6.45%, from 6.60%, fixed for five years, at up to 70% LTV, with a 3% fee.