Accord Mortgages is cutting rates on its high loan to value (LTV) mortgages and offering £1,000 cashback.

Homebuyers with a 5% deposit can now benefit from reduced rates on the lender’s 95% LTV mortgages, with rates starting at 3.21% for a two-year fixed rate.

This mortgage comes with £1,000 cashback on completion, free standard valuation and a £495 fee.

Other deals in Accord’s 95% LTV range, all of which come with £1,000 cashback on completion and free standard valuation, include:

• Two-year fixed rate at 3.49% (no product fee)
• Five-year fixed rate at 3.54% (£495 product fee)
• Five-year fixed rate at 3.66% (no product fee)

Borrowers could also choose Accord’s discounted standard variable rate (SVR) mortgage at 2.99% for two-years.

Available to homebuyers, the 95% LTV variable mortgage tracks Accord’s SVR, currently at 4.99%, at a discounted rate of 2.00%. It comes with a free standard valuation and a £495 product fee.

Jemma Anderson, mortgage manager at Accord Mortgages, said: “Buying or moving house can be expensive so we hope this new range of mortgages will give brokers and their clients a little help with managing the associated upfront costs.

“We’re still giving £1,000 cashback on most of our 95% LTV mortgages and including free standard valuation with lower or no fees, in addition to reducing rates. We’re sure these mortgages will be well received by brokers looking to help borrowers with smaller deposits.”

The intermediary-only lender, which is part of Yorkshire Building Society, has also made changes to its 90% LTV mortgages, with rates reduced by up to 0.27 percentage points.

Borrowers with a 10% deposit looking to purchase or remortgage a house can now get a five-year fixed rate of 2.50% (previously 2.77%). This mortgage comes with a £995 product fee.

Alternatively a two-year tracker mortgage is available at 1.99% (previously 2.24%) for two years, with free standard valuation and a £995 product fee.