Virgin Money has updated its mortgage range with a number of rate reductions in its residential and buy-to-let products. 

Key changes to residential two-year fixed rates:

• Two-year fixed rate up to 80% LTV reduced to 1.68% (£995 product fee, £300 cashback for purchases)
• Two-year fixed rate up to 85% LTV reduced to 1.78% (£995 product fee, £300 cashback for purchases)
• Two-year fixed rate up to 95% LTV reduced to 3.75% (No product fee, £300 cashback for purchases)

Key changes to residential three-year fixed rates:

• Three-year fixed rate up to 65% LTV reduced to 1.69% (£995 product fee)
• Three-year fixed rate up to 80% LTV reduced to 1.98% (£995 product fee, £300 cashback for purchases)
• Three-year fixed rate up to 85% LTV reduced to 2.04% (£995 product fee, £300 cashback for purchases)

Key changes to residential five-year fixed rates:

• Five-year fixed rate up to 65% LTV reduced to 1.97% (£995 product fee)
• Five-year fixed rate up to 80% LTV reduced to 2.29% (£995 product fee, £300 cashback for purchases)
• Five-year fixed rate up to 85% LTV reduced to 2.44% (£995 product fee, £300 cashback for purchases)

Key changes to buy-to-let rates:

• Two-year fixed rate up to 70% LTV reduced to 2.39% (£995 product fee, £500 cashback)
• Two-year fixed rate up to 75% LTV reduced to 2.45% (£995 product fee, £500 cashback)
• Five-year fixed rate up to 60% LTV reduced to 2.89% (£995 product fee, £500 cashback)

Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “We are delighted to make further reductions to our fixed rate pricing, ensuring that we continue to offer attractive options for purchase and remortgage customers looking for residential and buy-to-let loans at a range of different deposit levels.

“We are committed to supporting the mortgage market, as these latest improvements demonstrate.”