Virgin Money has announced buy-to-let (BTL) product transfer changes, with new products and rate reductions, effective tomorrow (27 January).

The new products include two-, three- and five-year fixed rates with a fee of £1,495 with rates starting from 3.84%, 3.89% and 4.04% respectively.

The lender is also cutting prices by up to 0.33% on BTL product transfers.

Two-year fixed rates with a fee of £3,995 will be lowered by up to 0.33%, starting from 3.54% and two-year fixed rate fee-savers will be reduced by 0.27%, starting from 4.25%.

In addition, three-year fixed rate fee-savers will be cut by 0.26%, starting from 4.19%.

Meanwhile, BTL product transfer products have also been withdrawn across selected two-, three- and five-year fixed rates. Some of these include two- and five-fixed rates with a fee of £995 and two-, three- and five-fixed rates with a fee of £1,995.

Elsewhere, Newcastle for Intermediaries has reduced rates across a broad selection of its intermediary mortgage product ranges, with reductions of up to 0.36%.

The price cuts apply to multiple propositions including residential, shared ownership, government first home, interest only, JMSP, enhanced+, affordability boost and new build (up to 95% loan-to-value).

There are two-, five- and six-year fixed rate options are available across a range of LTVs up to and including 95%, as well as fee-assisted and cashback features on selected 90% and 95% LTV products to help customers manage upfront costs.

In addition, Hampshire Trust Bank (HTB) has enhanced its BTL pricing on loans over £1 million.

The update means that where larger BTL cases are structured at lower LTVs, pricing now reduces accordingly.

Last week, Clydesdale Bank confirmed reductions to its residential fixed rates with effect from 26 January.