Virgin Money has made a series of rate cuts in its range of residential mortgage products.

The changes, which are effective from 23 February, are as follows:

New Business:

Exclusive

• Reduce £1,000 cashback 75% LTV 5 Year £995 fee by 0.05 percentage points to 1.74% (Purchase Only)
• Reduce £1,000 cashback 85% LTV 2 Year £995 fee by 0.10 percentage points to 2.69% (Purchase Only) 

Core Residential

• Reduce 65% LTV 2 Year fee-saver by 0.14 percentage points to 2.06%
• Reduce 65% LTV 5 Year fee-saver by 0.31 percentage points to 1.68%
• Reduce 65% LTV 5 Year £995 fee by 0.04 percentage points to 1.35%
• Reduce 75% LTV 5 Year £995 fee by 0.05 percentage points to 1.68%
• Reduce 75% LTV 2 Year fee-saver by 0.14 percentage points to 2.09%
• Reduce 85% LTV 2 Year £995 fee by 0.05 percentage points to 2.64%
• Reduce 85% LTV 2 Year fee-saver by 0.03 percentage points to 2.98%
• Reduce 85% LTV 3 Year fee-saver by 0.03 percentage points to 3.13%
• Reduce 85% LTV 5 Year fee-saver by 0.03 percentage points to 3.13%
• Reduce FTB 90% LTV 2 Year £995 fee by 0.05 percentage points to 3.24% (£500 CB)
• Reduce FTB 90% LTV 5 Year £995 fee by 0.05 percentage points to 3.41% (£500 CB)
• Reduce FTB 90% LTV 5 Year fee-saver  by 0.07 percentage points to 3.62% (£500 CB)

Shared Ownership

• Reduce 85% LTV 5 Year fee-saver by 0.02 percentage points to 3.77%
• Reduce 90% LTV 2 Year fee-saver by 0.09 percentage points to 3.64%
• Reduce 90% LTV 5 Year £995 fee by 0.27 percentage points to 3.59%
• Reduce 90% LTV 5 Year fee-saver by 0.31 percentage points to 3.78%

Product Transfer:

Core Residential

• Reduce 65% LTV 5 Year fee-saver by 0.02 percentage points to 1.68%
• Reduce 65% LTV 5 Year £995 fee by 0.04 percentage points% to 1.35%
• Reduce 75% LTV 5 Year £995 fee by 0.01 percentage points to 1.68%

Shared Ownership

• Reduce 90% LTV 2 Year fee-saver by 0.09 percentage points to 3.64%
• Reduce 90% LTV 5 Year £995 fee by 0.27 percentage points to 3.59%
• Reduce 90% LTV 5 Year fee-saver by 0.31 percentage points to 3.78%