Accord Mortgages is reducing every fixed rate in its residential new business range by 0.10 percentage points.

The changes take effect from 8am on 6 October and cover the intermediary-only lender’s full range of fixed rate products for new customers.

Among the reductions is a five-year fixed rate for remortgage customers at 65% LTV, which falls from 5.35% to 5.25%. It has a £1,495 fee, standard valuation and £500 cashback.

For purchasers borrowing at 90% LTV, Accord is cutting its fee-free two-year fixed rate from 6.00% to 5.90%. The product includes £300 cashback and a standard valuation.

£5,000 DEPOSIT MORTGAGE

The repricing also applies to Accord’s £5,000 Deposit Mortgage, which allows borrowers to purchase a property worth up to £500,000 with a £5,000 deposit.

The product is aimed at first-time buyers for whom accumulating a deposit can be a barrier to home ownership. Its fee-free five-year fixed rate will fall from 6.88% to 6.78% and includes a standard valuation.

Jeremy Duncombe (pictured), managing director of Accord Mortgages, said: “We’re delighted to be reducing rates across the range, including on our innovative £5K Deposit Mortgage, reaffirming our commitment to providing excellent value and helping brokers to support more aspiring homeowners to achieve their dreams.”