Accord Mortgages is reducing its mortgages for customers with a 10% deposit by up to 0.15 percentage points, with added incentives.

It has cut the rates on its 90% loan-to-value (LTV) two-year fixed rate residential mortgages by 0.15 percentage points, and its two-year fixed rate mortgages for 95% customers by up to 0.10 percentage points.

Deals in the range available to house purchase customers include:

• 2.84% two-year fixed rate mortgage at 90% LTV with a £845 product fee, £250 cashback on completion and free standard valuation
• 3.09% two-year fixed rate mortgage at 90% LTV with no product fee, £250 cashback on completion and free standard valuation
• 4.54% two-year fixed rate mortgage at 95% LTV with no product fee, £750 cashback on completion and free standard valuation.

David Robinson, Accord’s national intermediary sales manager, said: “We have always been committed to providing competitive rates for first-time buyers with 5% and 10% deposits, which is demonstrated by our new range.

“We think these latest rate reductions will appeal to brokers and borrowers looking for value for money from their fixed rate mortgage.

“In addition, the cashback on completion and free standard valuations will help borrowers to keep down the upfront costs of purchasing a home.”