Virgin Money has made changes to its residential mortgage range.

Key residential changes:

Mortgages for those with smaller deposits reduced:

• 90% LTV two year fixed rate reduced by 0.20 percentage points to 4.55%
• 85% LTV two year fixed rate reduced by 0.10 percentage points to 3.29%
• 80% LTV two year fixed rate reduced by 0.17 percentage points to 2.68%

Fee Saver Option rates (mortgages with no product fee) reduced:

• Two year fixed rate up to 60% LTV reduced by 0.11 percentage points to 2.34%
• Two year fixed rate up to 70% LTV reduced by 0.15 percentage points to 2.44%
• Two year fixed rate up to 75% LTV reduced by 0.05 percentage points to 2.74%
• Two year tracker up to 70% LTV reduced by 0.25 percentage points to 2.34%

Everyday mortgage rates reduced:

• Two year fixed rate up to 70% LTV reduced by 0.05 percentage points to 2.14%
• Two year tracker up to 70% LTV reduced by 0.10 percentage points to 1.94%
• Two year tracker up to 75% LTV reduced by 0.14 percentage points to 2.24%
• Two year tracker up to 80% LTV reduced by 0.17 percentage points to 2.68%

Freedom to Fix trackers, which allow customers to switch into a fixed rate during the tracker period, reduced:

• Two year Freedom to Fix tracker up to 70% LTV reduced by 0.76 percentage points to 2.09%
• Two year Freedom to Fix tracker up to 75% LTV reduced by 0.85 percentage points to 2.34%
• Two year Freedom to Fix tracker up to 80% LTV reduced by 0.81 percentage points to 2.78%

Longer term fixed rates:

• Five year fixed rates available from 3.05% at 70% LTV
• Five year fixed rate with no product fee available from 3.39%

Peter Rogerson, commercial director for mortgages and savings at Virgin Money, said:  “We are pleased to announce these latest mortgage rate reductions, which help borrowers across a range of circumstances.”