The lender has launched a five-year fixed rate for borrowers with a 30% deposit. This deal is available at 2.34% with a £1,495 product fee.

At 80% loan-to-value a remortgage product is available at 2.94%, with £495 product fee.

Two-year fixed rates have been lowered to 2.09% at 75% loan-to-value, 2.14% for those with 20% deposit and 2.19% at 85% loan-to-value.

The lender has also made changes to its buy-to-let product range, with a trio of products reduced.

New products are:

– Two-year fixed rate at 75% loan-to-value reduced by 0.16% to 2.89% (£1,995 product fee, £500 cashback)

– Five-year fixed rate at 75% loan-to-value reduced by 0.10% to 3.79% (£995 product fee, £500 cashback)

– Two-year tracker rate at 75% loan-to-value reduced by 0.30% to 2.79% (£995 product fee, £500 cashback)

Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “We’re delighted to announce these latest improvements to our mortgage range, reducing rates on both our residential and buy-to-let products.

“In line with the commitments we announced earlier in the year, our intermediary partners have access to all products across our range and we are pleased to announce a further rate reduction on one of our most popular intermediary exclusive deals.”