Accord Mortgages has cut the rates on its 90% and 95% loan to value (LTV) two-year fixed rate residential mortgages by 0.15 percentage points.

There is also the incentive of cashback on completion for house purchase.

The intermediary-only lender, which is part of Yorkshire Building Society Group, is now offering borrowers with a 10% deposit a two-year fixed rate mortgage at 3.24%, with £250 cashback on completion. The mortgage has no product fee and offers free standard valuation for house purchases.

Also on offer is a 4.59% two-year fixed rate mortgage at 95% LTV, with no product fee and £130 processing fee. The mortgage has a £750 cashback on completion and offers free standard valuation for house purchases.

Jill Evans, managing director at Accord, said: “We are committed to helping people achieve their dreams of owning their own home. We believe our 90% and 95% LTV two-year rate reductions will really appeal to first-time buyers, especially with the added incentives of cashback and free standard valuation, which minimise the up-front cost of buying your first home.

“We also hope these mortgages will prove popular with brokers looking for mortgages for customers with smaller deposits.”