Notable reductions include the 85% LTV 2-year fix cut from 2.45% to 2.37%, which is available to house purchase and remortgage customers, and includes a £995 fee, £300 cashback and free standard valuation.

The 90% LTV 2-year fix has been cut from 3.30% to 3.22% and is available to homebuyers only, with a £495 fee, £750 cashback and free standard valuation.

The 95% LTV 2-year fix has also been cut, from 3.79% to 3.69%, and it is available to homebuyers only and comes with a £995 fee, £750 cashback and free standard valuation.

Accord has also increased cashback on selected 5% deposit mortgages, by up to £750.

Jemma Anderson, mortgage manager at Accord Mortgages, said: “We’ve made changes to our range at higher LTVs to give brokers supporting borrowers with smaller deposits more competitive choice.

“We’re pleased to be delivering better value to those choosing our smallest deposit mortgages, and with many potentially being first-time buyers, we’re sure the increased cashback will be welcome to help with the upfront costs associated with buying a home.”