Virgin Money will be making changes to its residential and buy-to-let (BTL) mortgage range, effective 21 March.

From tomorrow, the lender will introduce BTL purchase and remortgage exclusives with £300 cashback and free valuation.

It will add a new 65% loan-to-value (LTV) two-year fixed rate with a £995 fee at 4.90% and an equivalent five-year fixed rate at 4.65%.

Meanwhile, Virgin Money will reduce rates on its 60% LTV two- and five-year fixes by 0.15% and 0.06% respectively to 4.82% and 4.60%. These come with a fee of £995.

The lender’s selected portfolio landlord 60% LTV fixes will be lowered by up to 0.15%. It will also add 75% LTV fee-savers starting from 4.88%.

For the residential core and exclusive range, the lender will reduce its 95% LTV five-year fix fee-saver by 0.02% to 5.02%.

Selected fixed rates within the range will also be reduced by up to 0.10%.

In addition, product transfer selected fixes will be cut by 0.41%.

Virgin Money also announced that from 8pm tonight (20 March) selected 85% LTV residential fixed rates from the lender’s core range will go up by 0.05%.