The lender has reduced its 90% loan-to-value (LTV) two-year fixed rate mortgage to 4.29% with a £995 fee. Virgin Money has also cut the cost of its 75% LTV two-year fixed rate deal to 2.29 with a £995 product fee, and reduced the rate on its 75% LTV tracker to 1.89% with a £995 fee.

The interest rates charged on the lender’s fee-saver mortgage deals have also been reduced, with a new three-year fixed rate at 2.59% up to 70% LTV with no fee, and a five-year fixed rate at 3.19% up to 70% LTV with no fee.

Peter Rogerson, commercial director for mortgages and savings at Virgin Money said:

“We are pleased to announce these latest mortgage rate changes, which will help borrowers across a range of circumstances.”