Rates for borrowers looking to secure a longer-term deal have been slashed by Accord Mortgages, with a 0.15% reduction on selected five-year fixed rate ones.

Accord, an intermediary-only lender which is part of the Yorkshire Building Society Group, has reduced rates on its range of five-year fixed rate mortgages at 75%, 80% and 85% LTVs.

A 2.64% five-year mortgage with a £845 fee is accessible to borrowers with a 15% deposit. This is on offer to both house purchase and remortgage borrowers.

Meanwhile, those seeking to minimise the costs of moving or remortgaging can take advantage of Accord’s 2.74% option with a £845 fee, on offer with £250 cashback on completion. It also includes free standard valuation for house purchase, or free standard valuation and legal fees for remortgaging customers.

There is also a 2.49% five-year mortgage, at 80% LTV, which comes with an £845 fee and incentives. Once again, these include £250 cashback on completion and free standard valuation for house purchase or free standard valuation and legal fees for remortgaging customers.

“We are sure the new rates will prove attractive to brokers and borrowers, and we are keen to offer value for money to our customers with incentives like cashback on completion,” David Robinson, Accord’s National Intermediary Sales Manager, said. “The five-year rate reductions will appeal to borrowers looking for the security of a fixing their mortgage repayments to a competitive rate for a longer period.”

Cuts of up to 0.15% have also been made on Accord’s range of two-year fixed rate mortgages. Highlights include two-year house purchase option at 1.99, with a £845 fee and £250 cashback on completion and free standard valuation.