Accord Mortgages is launching a range of new 90% loan-to-value (LTV) mortgages and reducing rates at this LTV tier by up to 0.23 basis points.

The intermediary-only lender has launched a 2.24% two-year fixed rate mortgage at 90% LTV with a £995 fee, which is available to both remortgage and house purchase customers.

In addition, Accord is offering a two-year fixed rate mortgage at 2.32% at 90% LTV which comes with a £995 fee, plus £250 cashback on completion and free standard valuation for purchase customers.

For those looking for a longer term option the range includes a five-year fix at 2.96% at 90% LTV with a £995 fee. This mortgage is available with free standard valuation and free legal fees for remortgaging borrowers, and £250 cashback on completion and free standard valuation for house purchase customers.

Jemma Anderson, mortgage product manager for Accord Mortgages, said: “We think it’s important to ensure that first-time buyers have access to competitive rates, which is why we’ve launched these new mortgages plus cut rates on our 90% LTV bracket.

“We recently removed our mortgage application processing fee, which gives brokers and their clients the assurance that no product fees need to be paid until the mortgage has completed. We hope this, plus the option of added incentives on our 90% LTV mortgages, will help to reduce the upfront costs for first-time buyers looking to get a foot on the property ladder.”