Accord cut mortgage rates by up to 0.40% for first-time buyers

Accord Mortgages has released a range of mortgages for first-time buyers and borrowers with low amounts of equity.

Its new range of 90 per cent loan-to-value (LTV) mortgages has rates up to 0.40 per cent lower than the products they are replacing.

=Highlights of its new product range include a two-year fixed rate mortgage deal with a rate of 4.14 per cent and a £995 product fee or alternatively a mortgage over the same term but with a rate of 4.34 per cent and a lower fee of £495.

Alternatively, Accord offers a five-year fixed rate mortgage deal at 4.44 per cent with a fee of £995.

The range, which is available for house purchase or remortgage, includes products offering cashback on completion of up to £250 and valuation assistance.

Jemma Smith, Accord Product Manager, said: "These are very competitive rates which will appeal to people with smaller deposits.

"We try to support all types of borrowers across the various loan-to-value levels and first time buyers in particular should really benefit from these new mortgages."