Virgin Money has implemented reductions in selected buy-to-let fixed mortgage rates, effective today, Friday, 28 February.

The changes are designed to offer more competitive options for both new and existing landlords.

For new buy-to-let purchase and remortgage customers, the two-year fixed rates with a £995 fee have been decreased by 10 basis points (bps), as have the two-year fixed rate fee-saver products.

Five-year fixed rates with a £995 fee, along with five-year fixed rate fee-savers, have been reduced by 5bps.

Existing buy-to-let customers looking to transfer their mortgage products will also benefit from these changes.

Two and three-year fixed rates have been lowered by 10bps, while five-year fixed rates see a reduction of 5bps.