Virgin Money has made changes to its mortgage range, cutting residential rates between 70% and 90% LTV by up to 0.20 percentage points.

Two-year fixed rate mortgage changes:

• Two-year fixed rate at 70% LTV reduced by 5bps to 1.99% (£995 product fee, £300 cashback for purchases)
• Two-year fixed rate at 85% LTV reduced by 4bps to 2.05% (£995 product fee, £300 cashback for purchases)
• Two-year fixed rate at 90% LTV reduced by 10bps to 2.99% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)

Three-year fixed rate mortgage changes:

• Three-year fixed rate at 85% LTV reduced by 20bps to 2.55% (£995 product fee, £300 cashback for purchases)
• Three-year fixed rate at 90% LTV reduced by 4bps to 3.45% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)

Five-year fixed rate mortgage changes:

• Five-year fixed rate at 85% LTV reduced by 12bps to 3.08% (£995 product fee, £300 cashback for purchases)
• Five-year fixed rate at 90% LTV reduced by 2bps to 3.68% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)

Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “We’re delighted to announce these latest reductions to our mortgage rates, which will particularly benefit borrowers with lower deposits.

“We are also continuing to waive the usual £99 application fee for a limited period, providing a further benefit to customers.”