Virgin Money is reducing fixed mortgage rates across purchase, remortgage and selected buy-to-let product transfer deals, while increasing some remortgage tracker rates from 8pm today.

The lender said the changes will take effect on Thursday 23 April for its fixed rate ranges.

For purchase business, two-year fixed rates will be reduced by up to 0.37%, five-year fixed rates by up to 0.45%, and 10-year fixed rates by 0.40%.

Virgin Money is also cutting Shared Ownership fixed rates by up to 0.45%.

Within remortgage, two-year fixed rates will be reduced by up to 0.32%, while five-year fixed rates will fall by up to 0.35%. Its 75% loan-to-value 10-year fixed rate fee-saver will also be cut by 0.25%.

For buy-to-let product transfers, the lender is reducing its 60% loan-to-value five-year fixed rate with a £3,995 fee by 0.10%, its 60% loan-to-value five-year fixed rate with a £1,495 fee by 0.10%, and its 75% loan-to-value five-year fixed rate with a £1,495 fee by 0.05%.

Separately, Virgin Money said it will increase remortgage two-year tracker rates by up to 0.25% from 8pm today (22 April).

Brokers submitting applications for customers on those tracker products have until 8pm to secure the current pricing.

The lender also said end dates will move to 1 August of the relevant year.

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