Accord is increasing rates by up to 20 basis points while cutting others by up to 18 basis points on Wednesday.

The lender is increasing the rate on one of its 10-year fixed rates by 0.2 percentage points to 2.64 per cent and on a seven-year fix by 0.15 percentage points to 2.34 per cent.

It is also withdrawing a 15-year fixed rate.

Among the house purchase rates it is cutting are:

• A two-year fixed rate at 2.28 per cent (was 2.46 per cent) at 80 per cent LTV, which comes with a £495 fee, £500 cashback and free standard valuation.
• A five-year fixed rate at 1.85 per cent (was 1.87 per cent) at 75 per cent LTV, which comes with a £495 fee, £500 cashback and free standard valuation.

Among the purchase and remortgage rates being cut are:

• A two-year fixed rate at 2.07 per cent (was 2.25 per cent) at 80 per cent LTV, which comes with a £995 fee.
• A two-year fixed rate at 2.59 per cent (was 2.72 per cent) at 85 per cent LTV, with a £995 fee.

In a further change, the initial discounted reversionary rate on all two and three year products for new business and additional lending will reduce from the SVR minus 0.24 percentage points  to SVR minus 0.74 percentage points.

The SVR is currently 4.49 per cent.

The discounted reversionary rate applies from the end of the initial fixed rate period until the end of the fifth year of the mortgage.

After that the borrower will move onto the main SVR.

 Accord mortgage manager Jemma Anderson says: “We’re really pleased to be able to offer further reductions to our residential range, offering more competitive choice to brokers and their clients.

“With a range of LTV and initial fixed rate term options, as well as a variety of benefits including cashback and free standard valuation, we hope these changes will benefit brokers and their clients.”