Virgin Money has announced the launch of new mortgage products as well as the reduction of selected 10-year fixed rates, effective today. 

The new products include exclusive remortgage deals with a fee of £1,295. The lender will offer a 65% loan-to-value (LTV) five-year fixed rate at 3.25% and an 85% LTV five-year fixed rate at 3.41%. 

It has also launched a new exclusive purchase deal, including an 85% LTV five-year fixed rate at 3.45% with a fee of £1,495 and £500 cashback.

Meanwhile, the lender has also reduced rates to its core range to help customers looking for certainty over their mortgage payments for longer.

The two-year fixed rate up to 95% LTV has been reduced by 0.25% to 4.09% with no fee, while the three-year fixed rate up to 95% LTV has gone down by 0.25% to 4.09% also with no fee. 

The 10-year fixed rate up to 75% LTV has decreased by 0.55% to 3.30% and comes with a £995 product fee.