Accord Mortgages is cutting rates at most loan to values (LTVs) and introducing a new three-year option at 85% LTV.

The lender has reduced rates across its 65%, 75%, 80%, 85% and 90% LTV ranges by up to 0.12 percentage points.

New deals include a two-year fixed rate at 1.37% at 65% LTV for house purchases, with a £995 product fee.

A new fee-free three-year fixed rate mortgage is also available at 2.29% for borrowers looking to buy a new home with a 15% deposit.

Both mortgages come with £500 cashback on completion and free standard valuation.

In addition, there is a five-year fix at 2.12% for both house buyers and remortgage customers at 85% LTV and a £995 fee.

David Robinson, Accord’s national intermediary sales manager, said: “We always try to offer brokers and borrowers a range of options and good, long-term value for money. By making these reductions and launching mortgages, we are increasing the choice brokers can offer their clients.

“As well as the product we’ve launched today, we also have mortgages with no upfront fees for those who want to minimise the costs of moving or remortgaging.”