Virgin Money has made reductions to a series of its residential mortgages, with the most significant changes occuring its first-time buyer range.

The FTB-focussed 90 per cent LTV two-year fix with £995 fee has had 15 basis points cut, bringing it to 3.29 per cent, with the fee-saver version having 20 basis points removed, providing a rate of 3.49 per cent.

As well as this, the lender has made cuts of up to 13 basis points within its Core Residential range.

Specifically, the 85 per cent LTV three-year fix fee saver has received this cut and is now 3.16 per cent and the 85 per cent LTV five-year fix fee saver has also received a 13 basis point reduction, bringing its rate to 3.16 per cent.