Accord Mortgages has launched a new range of five-year offset mortgages.

They are aimed at borrowers who want to reduce their repayments or pay off their home loan early.

The deals are available at 75%, 80% and 85% loan to value (LTV).

The new range includes a 2.49% offset at 75% LTV. For those looking to borrow more, there is a 2.59% option at 80% LTV, or available at 85% LTV is a 2.69% deal.

Each mortgage comes with a £995 product fee.

Last month Accord’s offset mortgages became manageable online, giving borrowers direct access to their balance and statements, plus enabling them to easily transfer money and set up standing orders. Customers also have the choice to manage their account via telephone or post.

David Robinson, national intermediary sales manager at Accord, said: “The demand for offset mortgages is increasing, especially as savings rates are offering such low returns.

“Offsets can be a great option for all types of borrowers, particularly those with a large amount of savings and people with irregular incomes or who benefit from bonuses. Higher and additional tax payers can also benefit from an offset, as they will avoid paying tax on interest earned on their savings.

“We’re constantly developing our offset offerings, for instance we recently simplified the way customers can manage their accounts by improving online access, to provide attractive options for brokers and borrowers who are hoping to reduce their home loan.”