Accord Mortgages has increased its maximum LTV level for borrowers looking to purchase or remortgage flats.

For new builds, the maximum LTV has gone up from 85% LTV to 90% LTV and, for non-new build flats, from 90% LTV to 95% LTV.

New pricing includes a 90% LTV two-year fix at 2.85% and a five-year fix at 3.11%. Both charge a £495 fee and come with £250 cashback and a free valuation.

Accord Mortgages senior manager for new propositions Nicola Alvarez says: “We’re committed to helping brokers support their clients with options suited to a range of needs and increasing our maximum LTV for flats will give more competitive choice in the market.

“Remortgagers wanting a higher LTV or first-time buyers and those restarting on the property ladder who may have been squeezed out of the house purchase market as a result of excessive house price inflation recently, could benefit.

“The change will help these borrowers and more find a suitable alternative – it’s all part of our common-sense approach to lending.”