From Wednesday, the two-year fixed purchase deal at 90 per cent LTV will be reduced by 0.05 per cent to 3.3 per cent. This product has £495 fee and £750 cashback.

The two-year fixed rate at 85 per cent LTV will be cut by 0.05 per cent to 2.45 per cent and the five-year fixed rate will be cut by 0.02 per cent to 2.75 per cent.

Accord Mortgages said the 85 per cent LTV option outlined above would come with a £995 fee and £300 cashback.

The company said that as part of its change it would increase the rate for selected 75 per cent LTV products.

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Products to become more expensive include a pair of five-year fixed rate deals which will go up by 0.05 per cent to 1.79 per cent and 1.90 per cent.

Accord Mortgages mortgage manager Jemma Anderson (pictured) said: “We’re committed to supporting brokers and their clients with a broad range of options to meet varying needs and have reviewed our range to deliver better value.

“While some rates at lower LTVs have increased, we’ve extended end dates to September and made positive changes to our higher LTV range which will be welcomed by those with smaller deposits.”