Accord Mortgages is cutting some rates for landlords and residential customers. 

For landlord clients, selected three-year products reduce by as much as 0.45%, with two-year fixed rates reducing by up to 0.35%. For those looking for a longer initial fixed term, selected five-year fixes are to reduce by up to 0.20%.

Highlights on products for landlords, available from today, include:

• A two-year fixed rate at 5.54% (was 5.89%) for house purchase up to 80% LTV, which comes with a £995 fee and free standard valuation;

• A three-year fixed rate at 4.69% (was 4.89%) for those remortgaging up to 65% LTV, which comes with a £3,495 fee, free standard valuation and remortgage legal service;

• And a five-year fix at 4.84% (was 5.04%) for those remortgaging up to 75% LTV, which comes with a £1,995 fee, free standard valuation and remortgage legal service.

The intermediary-only lender is also extending end dates across all products to 31 March, to maximise product term value for brokers and their clients.

For residential borrowers there are reductions on selected two-year fixes of up to 0.30%, with three-year fixes discounted by as much as 0.15%. Five-year fixes are reduced by up to 0.25%, and, on some products, fees are reduced from £995 to £495. 

The interest rate is also reduced on the intermediary-only lender’s £5K Deposit Mortgage, launched earlier this year and available only to first-time buyers. This was designed to enable them to purchase a property valued up to £500,000 with just a £5,000 deposit, tackling one of the biggest challenges they face in achieving their homeownership dreams – the ability to save a big enough deposit. 

This will now be available at a rate of 5.74% (was 5.79%) for a five-year fix.

Highlights of the new range, available from today, for borrowers purchasing or remortgaging their own home, include:

• A fee-free two-year fix up to 75% LTV at 5.19% (was 5.49%), suitable for those remortgaging, which comes with £500 cashback and free standard valuation;

• A five-year fix up to 75% LTV at 4.64% (was 4.74%), for house purchase, which has a £495 fee (was £995) and includes £500 cashback, and free standard valuation;

• And a fee-free two-year fix at 6.43% (was 6.63%) for those with a 5% deposit who are purchasing a home, with £250 cashback and free standard valuation.

Gemma Hyland, mortgage product manager for Accord, says: “These changes … refresh both our residential and buy-to-let ranges – ensuring that we provide the best value possible, and demonstrating our ongoing commitment to supporting a wide-range of borrowers with different circumstances or needs.”