Accord will launch two mortgages at 95% loan-to-value (LTV) for first-time buyers and remortgagers with lower deposits, available from 25 January at 8am.

The new range features rate cuts of 0.57% on 95% LTVs and a reduction of 0.19% on a two-year product catering for larger loans of up to £2m.

Highlights of the new products include a five-year fixed rate up to 95% LTV at 5.10% reduced from 5.30%. The product which is aimed at first-time buyers is for house purchase, with a £495 product fee, £750 cashback and free standard valuation.

For remortgagers, the lender has a five-year fix to 95% LTV, at 5.32% down from 5.89%, with £250 cashback, free standard valuation and remortgage legal service, and a £495 product fee.

There is also a five-year fix to 90% LTV at 4.85%, lowered from 5.00%, which comes with a £495 product fee, free standard valuation and £500 cashback, and is available for home purchase.

For borrowers needing larger loans of up to £2m, there’s a two-year fix to 85% LTV at 5.16%, previously 5.35%, which comes with £500 cashback, a product fee of £995 and free standard valuation.

Accord mortgage product manager Gemma Hyland says: “Helping first-time buyers has been a major focus for us in recent years, as we understand the challenges they face in getting a footing on the housing ladder and, ultimately, they are the engine room of the market – fuelling activity further up the sale and purchase chain.”