Virgin Money will make selected cuts across its residential and landlord exclusive ranges, as well as its switcher rates, by up to 26 basis points. 

Highlights of the high street lender’s reductions include: 

Purchase exclusives with a £1,295 fee 

• 65% LTV two-year fixes will be reduced by 14bps to 5.20% 
• 75% LTV two-year fixes will be reduced by 19%bps to 5.26% 

Purchase exclusive fee-savers 

• 75% LTV two-year fixes will be reduced by 16bps to 5.58% 
• 65% LTV five-year fixes will be reduced by 17bps to 4.87% 
• Purchase exclusive £1m-plus fixes will be reduced by up to 16bps 

Remortgage exclusives with a £995 fee and £250 cashback 

• 70% LTV two-year fixes will be reduced by 16bps to 5.33% 

Remortgage exclusive fee-savers with £250 cashback 

• 60% LTV five-year fixes will be reduced by 15bps to 5.15% 

Buy-to-let remortgage and purchase exclusives with a £2,195 fee 

• 75% LTV two-year fixes will be reduced by 9bps to 5.51% 

The lender adds that selected product transfer fixed-rate offers will be cut by up to 26bps, with rates starting at 4.89%. 

The bank will also withdraw the following products at 8pm today (17 October): 

Purchase exclusives with a £495 fee and £1,000 cashback 

• 90% LTV two-year fixes at 6.32% 
• 85% LTV five-year fixes at 5.39% 

John Charcol mortgage technical manager Nicholas Mendes says: “Lender repricing has slowed down in the past few days and the rate reductions in Virgin’s latest repricing clearly show that, with the majority of rates seeing a 10bps to 19bps, with some seeing a minimal 1bp reduction. 

“While I expect to see further reductions, the period of weekly repricing clearly coming to an end.”