The loans are purchase exclusives with £1,000 cashback.

They are a 90% LTV two-year fixed-rate offer, with a £995 fee at 1.99%.

And a 90% LTV three-year fixed-rate deal, with a £995 fee at 1.99%.

The lender says it has introduced a three-year option available at the same price as the two-year year fixed-rate loan, to help “customers with smaller deposits fix for longer, at no extra cost”.

However, it adds: “We expect these deals to be popular with customers and they may be withdrawn at any time without our usual notice.”

Last week, Virgin Money also announced several reductions across its residential and buy-to-let mortgage ranges.