Virgin Money will cut selected residential and landlord rates by up to 22 basis points, while Skipton Building Society will reduce house purchase fixes by up to 33bps from tomorrow (9 July).  

Virgin’s reductions include:  

Exclusive remortgages  

• Selected five-year fixes will be reduced by up to 12bps, with rates starting from 4.54%  

Exclusive buy-to-lets  

• Selected fixes with a 1% fee will be reduced by up to 12bps, with rates starting from 4.55%  

The bank adds that several other changes will come to market at 8pm tonight (8 July). These include:  

• Selected BTL fixes, with a £995 fee, will be reduced by up to 22bps, with rates starting from 4.74%  
• BTL fixes fee-savers will be reduced by up to 17bps, with rates starting from 4.97%  
• Selected BTL product transfer fixes will be reduced by up to 20bps, with rates starting from 4.49%  

Meanwhile, Skipton Building Society will cut selected fixes across purchase and remortgage residential product ranges between 60% LTV and 75% LTV.  

The mutual says its biggest reductions are:  

• Two-year purchase fixes at 60% LTV, with no fee, now 4.99%, down by 33bps   

Its most competitive rates are:  

• Five-year remortgage fixes at 75% LTV, with a £1295 fee, now 4.59%, down by 12bps  

The lender points out that its two-year remortgage fixes at 60% LTV, with a £495 fee, are now 4.99%, down by 20bps.