Accord Mortgages will cut rates on selected residential and buy-to-let mortgages, with higher loan-to-value products seeing the greatest rate reductions.

The broker-only lender says the new rates come into force tomorrow (12 November) and highlights of its residential loans include:

A five-year fixed-rate deal at 2.69%, from 3.29%, for new build house purchases at 90% LTV, with a £495 fee, plus £250 cashback and a free standard valuation.

A five-year fixed-rate offer at 2.39%, from 2.59%, for house purchase at 90% LTV, with a £495 fee, plus £500 cashback and a free standard valuation.

A five-year fixed-rate mortgage at 2.99%, from 3.17%, for house purchase at 95% LTV, with a £495 fee, plus £500 cashback and a free standard valuation.

The lender adds that borrowers looking for longer-term mortgages can apply for a reduced ten-year fixed rate of 2.15%, from 2.33%, at 75% LTV.

This loan is available for house purchase and remortgage customers, with a £495 fee and a free standard valuation. However, early repayment charges now start at 6% for the first five years, from 5%, reducing gradually over the remaining initial deal term.

The firm adds that selected five-year rates at 85% LTV have also been reduced by 10 basis points, for house purchases and remortgages.

Highlights among 80% LTV BTL products include:

A two-year fixed rate of 2.91%, from 3.12%, for house purchase and remortgage, with a £995 fee, plus £250 cashback and a free standard valuation.

A two-year fixed rate of 2.91%, from 3.19%, for remortgage clients, with a £995 fee, plus free standard valuation and remortgage legal services.

A two-year discounted standard variable rate of 2.71%, from 2.91%, for house purchase and remortgage, with a £995 fee.

Accord Mortgages mortgage manager Jemma Anderson says: “We’ve made changes to our range of higher LTVs to give brokers supporting borrowers with smaller deposits more competitive choice when considering longer terms.”