Virgin Money will cut a range of fixed mortgage rates and introduce new products on Tuesday 23 September, including a pair of exclusive 75% LTV purchase fixes and reductions across purchase, remortgage and buy-to-let ranges.

For purchase customers using the exclusive range, the lender will launch a 75% LTV 2-year fix at 3.99% with a £895 fee and a fee-saver alternative at 4.24%. Five-year fixes at 75% LTV will fall by 0.16%, starting from 4.06%.

At 80% LTV, 2-year fixes will be reduced by up to 0.08%, from 4.07%, while 5-year fixes will drop by up to 0.04%, starting at 4.18%.

At 90% LTV, the 2-year fee-saver will be cut by 0.16% to 4.52% and the 5-year fee-saver by 0.03% to 4.52%.

In the broader purchase range, Virgin Money will reduce the 95% LTV 2-year fee-saver to 4.99% and the 5-year fee-saver to 4.89%, both down 0.10%.

On remortgages, 65% LTV 2-year fixes will be reduced by up to 0.34%, starting from 3.99%, with 5-year options down by up to 0.12% from 4.04%.

At 75% LTV, 2-year fixes will fall by up to 0.15%, starting from 4.04%, and 5-year fixes by up to 0.08%, starting from 4.08%.

In buy-to-let, the 60% LTV 2-year fix with a 3% fee will be cut by 0.15% to 2.83%, and the 75% LTV 2-year fix with a 3% fee will drop by 0.10% to 3.04%.

DEADLINE TODAY

Ahead of Tuesday’s changes, the lender will withdraw its exclusive 95% LTV 2-year fixed fee-saver at 4.99% at 8pm today, Monday 22 September. Brokers submitting applications for that product must do so by the 8pm deadline.

The new pricing and product changes take effect from Tuesday 23 September.