Virgin Money cuts fixed rates on purchases, remortgages and product transfers by up to 26 basis points.
The home loan cuts include savings on the lender’s five-year fixed-rate fee of up to 26 basis points, with rates starting at 4.07 per cent.
Virgin Money is also cutting interest rates by up to 25 basis points on its five-year fixed purchases, which cost £999 and start at 4%.
Exclusive purchase rates being slashed include Virgin’s 75% LTV five-year fixed rate fee saver, which will reduce fees by 14 basis points to 3.99%.
Remortgage rates can be reduced by up to 9 basis points, such as on selected two-year fixed rates, which cost £999 and start at 3.84%.
These changes will be implemented on December 9th.
The lender will also cancel all exclusive remortgages and exclusive buy-to-let loans at 8pm today.
Likewise, Virgin Money is taking some home loans out of its exclusive purchase range. These are renovation and upgrade deals, all new, and come with an 85% LTV five-year fixed rate of 4.17% and fees of £895.
Last month, the bank cut its repair rate by 13 basis points.
