Accord has cut residential rates across its two-year fixed rate 90 per cent loan-to-value range.
The lender has also said they will offer incentives including £250 cashback on completion and a free standard valuation.
Other features that Accord has introduced includes a two-year fixed rate mortgage at 90 per cent LTV at 2.54 per cent with a £845 product fee.
These cuts come after Accord, Yorkshire Building Society’s intermediary-only buy-to-let lender, extended its range of product fee mortgages in August this year.
David Hollingworth, associate director of communications at London and Country Mortgages, thinks the reason behind the move is the 90 per cent LTV market remains very competitive.
He said: “As a result lenders have to keep their rates under close review to avoid falling too far behind the competition.
“That has increasingly helped to sharpen up the rates not only for those with large deposits but also at the higher LTV end of the market.
“Repricing by Accord and others helps to drive down the rates on offer and improve product features, which is great news for brokers and their clients.”
David Robinson, Accord’s national intermediary sales manager, said these reductions provide competitive rates for borrowers.
He said: “There is also the option of reducing the upfront costs of purchasing a home with cashback on completion and free standard valuations.
“These 90 per cent LTV mortgages are available for a limited period, so it is worth brokers considering this when looking for a competitive two-year deal for their clients.”
