Virgin Money is implementing a series of rate reductions and increases across residential and buy-to-let products from today, 17 February, with changes affecting remortgage, purchase, shared ownership and product transfer ranges.

In the remortgage market, selected two-year fixed rates with a £999 fee are reduced by up to 0.16%, with pricing now starting from 3.84%. Two-year fixed rate fee-saver options fall by up to 0.17%, starting from 4.14%.

Selected five-year fixed rates with a £999 fee are reduced by up to 0.10%, with rates beginning at 3.94%, while five-year fixed fee-savers fall by up to 0.06%, starting from 4.10%.

PURCHASE AND SHARED OWNERSHIP

For purchase business, two-year fixed rates with a £999 fee are reduced by up to 0.08%, with pricing from 3.80%. Two-year fee-saver options are cut by up to 0.07%, starting from 4.01%.

Five-year fixed rates with a £999 fee fall by up to 0.06%, now starting from 3.96%, while five-year fee-savers are reduced by up to 0.13%, with rates from 4.04%.

Shared ownership fixed rates are also reduced by up to 0.13%, with pricing from 3.82%.

EXCLUSIVE BUY-TO-LET

Within the exclusive buy-to-let range, two-year fixed rates with a 1% fee are reduced by up to 0.05%, starting from 3.89%. Two-year fixed rates with a 3% fee are cut by up to 0.08%, with pricing from 2.78%.

However, selected five-year exclusive buy-to-let products see increases. Five-year fixed rates with a 1% fee rise by up to 0.05%, starting from 4.09%. Five-year fixed rates with a 3% fee increase by up to 0.04%, with rates from 3.63%.

Five-year fixed rates with a £2,195 fee increase by up to 0.07%, now starting from 4.07%.

STANDARD BUY-TO-LET

Across the standard buy-to-let range, two-year fixed rates with a £995 fee are reduced by up to 0.19%, with rates from 4.12%.

At 65% and 75% loan-to-value, five-year fixed rates with a £995 fee are reduced by 0.06%, starting from 4.15%. In contrast, the 80% loan-to-value five-year fixed rate with a £995 fee increases by 0.08%, to 4.92%.

The 75% loan-to-value two-year fixed rate fee-saver is reduced by 0.20%, to 4.40%, while the equivalent five-year fee-saver falls by 0.14%, to 4.35%.

PRODUCT TRANSFER

Selected residential product transfer two-year fixed rates are reduced by up to 0.11%, with pricing from 3.58%. Selected three-year fixed rates are also cut by up to 0.11%, starting from 3.80%.

Selected five-year fixed rates are reduced by up to 0.06%, with rates from 3.71%.

Within buy-to-let product transfer, selected two-year fixed rates increase by up to 0.04%. Selected five-year fixed rates either increase by up to 0.05% or reduce by up to 0.15%.

Across the updated ranges, end dates move to 1 June of the relevant year.