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

The changes are as follows:

Core Residential rate reductions:

• 85% LTV 2 Year £995 fee by 0.04 percentage points to 2.79%
• 85% LTV 2 Year fee saver by 0.07 percentage points to 3.06%
• 85% LTV 3 Year fee saver by 0.13 percentage points to 3.16%
• 85% LTV 5 Year fee saver by 0.13 percentage points to 3.16%
• First Time Buyer 90% LTV 5 Year £995 fee by 0.03 percentage points to 3.46%

Exclusive rate reductions:

• First Time Buyer 90% LTV 2 Year £995 fee by 0.15 percentage points to 3.29%
• First Time Buyer 90% LTV 2 Year fee saver by 0.20 percentage points to 3.49%

The changes are effective from tomorrow (26 January).