Accord Mortgages has relaunched his 90 per cent LTV products for the use of first-time buyers only.

The lender withdrew from this market on 8 June, citing “unprecedented demand” – in fact, Accord says, it experienced its two busiest days in its 17-year history.

The would-be borrower for its 90 per cent LTV products must have never owned a property or mortgage before, and can choose from a five-year fix at 2.99 per cent, which comes with a £495 fee and free valuation, or a zero-fee version at 3.09 per cent and free valuation.

The lender says that all criteria and loan sizes remain the same as before.

Accord director of intermediary distribution Jeremy Duncombe comments: “Our commitment to the housing market has not changed and our new range of products aims to help FTBs with smaller deposits, a group which has so far been offered limited choice. This will help the purchase market and keep chains moving, hence allowing subsequent buyers to keep moving on.

“We reluctantly took the decision to temporarily withdraw from this LTV tier just nine days ago and our underwriters have worked incredibly hard to get our service levels back to the Accord standard to which brokers have become accustomed to. It’s also testament to our MSO platform, introduced in autumn last year, which has enabled us process applications as efficiently as possible.

“We hope by offering longer term fixed rate products borrowers are given confidence in managing their payments in a very uncertain market. We know the demand is there and we have streamlined our products to ensure we can support brokers and their clients on the purchase journey.”