Virgin Money is set to cut selected fixed mortgage rates, with reductions across purchase, remortgage, buy-to-let and product transfer products.

In the residential purchase range, the lender is launching a new five-year fixed fee-saver at 75% LTV, priced at 4.25%.

Reductions have also been applied to a range of exclusive deals, with 80% LTV two- and five-year fixed rates cut by up to 0.07%, starting from 4.15%.

The five-year fixed at 85% LTV with an £895 fee has been lowered by 0.04% to 4.24%, while the 95% LTV five-year fixed fee-saver drops by 0.05% to 4.89%.

For remortgage customers, the exclusive 75% LTV two-year fixed with a £995 fee will fall by 0.09% to 4.14%.

Other two-year fixed rates in the range will reduce by up to 0.22%, starting at 4.28%, while selected five-year fixed rates will decrease by as much as 0.15%, with initial rates from 4.24%.

BUY-TO-LET

In the buy-to-let segment, Virgin Money is introducing a new 80% LTV two-year fixed rate at 5.09%, carrying a £995 fee. Existing 80% LTV two-year fixed products will also see changes, with the version carrying a 1% fee cut by 0.21% to 4.99%.

Two-year fixed rates with a 3% fee will drop by 0.08%, starting at 2.98%.

Additionally, two- and five-year fixed products with a £995 fee will be trimmed by 0.05%, starting at 4.24%, with corresponding fee-saver options also reducing by 0.05%, starting from 4.55%.

Product transfer rates are also being revised. Selected two- and three-year fixed rates will be cut by up to 0.23%, now starting at 3.86%, while five-year fixes fall by as much as 0.14%, with rates from 3.93%.

Buy-to-let product transfer rates will reduce by up to 0.11%, with prices beginning at 3.85%.

All changes come into effect from Thursday 26 June.