Virgin Money has announced a series of rate reductions across its purchase and product transfer mortgage range, effective from Tuesday, 25 February.

The changes will see rate cuts of up to 11 basis points (bps) on selected fixed-rate products.

PURCHASE MORTGAGES

• 80% LTV 5-Year Fixed Rate (with an £895 fee) will be reduced by 2bps, to 4.42%.
• 90% LTV 2-Year Fixed Rates will be reduced by up to 10bps, with rates starting from 4.96%.
• 95% LTV 2-Year Fixed Rate (fee-saver) will be reduced by 2bps, to 5.45%.
• 95% LTV 5-Year Fixed Rate (fee-saver) will be reduced by 4bps, to 5.18%.
• 90% & 95% LTV Fix and Switch rates will be reduced by up to 10bps, starting from 5.22%.
• 90% LTV Own New 2-Year Fixed Rates will be reduced by 3bps, starting from 2.30%.

PRODUCT TRANSFERS

• Selected 65% & 75% LTV 1, 2 & 3-Year Fixed Rates will be reduced by up to 11bps, starting from 4.15%.
• 65% & 75% LTV 5-Year Fixed Rates will be reduced by up to 10bps, starting from 4.12%.