Virgin Money has announced a series of reductions across selected residential, buy-to-let and product transfer fixed rates, effective from Tuesday 20 January.

The changes include rate cuts on a range of purchase products, with two-year and five-year fixed rates reduced by up to 0.24%.

The lender said headline rates for purchase now start from 3.79% on two-year fixed products with a fee, and from 3.86% on five-year fixed rates.

EXCLUSIVES

Within its exclusive purchase range, Virgin Money has reduced a number of two-year and five-year fixed rates between 75% and 90% loan-to-value. Two-year fixed rates at 75% and 80% loan-to-value have been cut by up to 0.15%, while selected five-year fixed rates at 75% loan-to-value are down by as much as 0.07%.

The 90% loan-to-value five-year fee-saver has been reduced by 0.03% to 4.28%.

Shared ownership fixed rates have also been reduced by up to 0.24%, with rates starting from 3.79%.

BUY-TO-LET

Across its buy-to-let range, Virgin Money has made reductions to both two-year and five-year fixed rates at 60% and 75% loan-to-value.

Two-year fixed rates with a 1% fee have been reduced by up to 0.11%, while selected products with a £2,195 fee have been cut by as much as 0.21%.

Five-year fixed rates in the range have been reduced by up to 0.07%, with rates now starting from 4.10%.

PRODUCT TRANSFERS

Product transfer rates have also been adjusted, with reductions of up to 0.06% across selected two-year, three-year and five-year fixed rate fee-saver products.

Two-year fixed rate fee-savers at 75% loan-to-value have been reduced to 4.08%, while the equivalent product at 85% loan-to-value now stands at 4.44%.

Virgin Money has reminded brokers that any previously submitted product transfer due to complete on 31 January 2026 cannot be switched, as this would result in the customer paying a standard variable rate in February. All other product switch requests for future maturity months will continue to be processed as normal.