Accord Mortgages has cut mortgage rates for borrowers with a 5% deposit.

The intermediary-only lender of the Yorkshire Building Society is now offering a two-year fixed rate mortgage at 4.49% with an £845 product fee.

For brokers and customers looking to avoid paying a product fee, Accord also has a 95% loan-to-value (LTV) mortgage at 4.79% with £750 cashback on completion and free standard valuation.

David Robinson, national intermediary sales manager at Accord Mortgages, said: “We are always looking to help people achieve their dream of getting on the property ladder and owning their first home. Reducing mortgage rates to offer competitive rates and value for money will clearly help to do this but we also offer an incentive product for borrowers with a 5% deposit. This reduces the upfront cost of taking out a mortgage and the cashback on completion means there is help for unexpected legal fees.”

The lender has also cut rates across its mortgage range at 65%, 75%, 80% and 85% LTV.