Accord is cutting rates and introducing new cashback products from tomorrow.

The lender will reduce rates on selected 95% loan-to-value (LTV) products by up to 0.80% and launch five-year fixed rate products at 90% and 95% LTV with £2,000 cashback.

It is also cutting rates on its five-year Deposit Unlock mortgages by up to 0.10%.

The new product range includes a fee-free five-year fixed rate at 6.23%, which comes with £2,000 cashback and a free standard valuation.

It is available for both home movers and first-time buyers with an LTV between 85% and 90% LTV.

A two-year fixed rate up to 95% LTV is now available at 6.92% from 7.72%, while a three-year fixed rate has been reduced from 7.16% to 6.79%.

Both the two year and three-year fixed deals come with a £995 fee, £250 cashback and a free standard valuation.

Accord mortgage manager Simon Garner says: “We’re constantly reading market conditions and looking for every opportunity to offer brokers products that will help their clients with the increased cost of living and a generally higher interest rate environment.”

He adds that the £2,000 cashback products ‘could be particularly appealing for first-time buyers to contribute to furnishing their new home’.