Virgin Money will reduce fixed rates on exclusive buy-to-let and product transfer products by up to 15 basis points, while Halifax will cut selected rates by up to 32bps tomorrow.

The lender has lowered selected BTL rates with a £995 fee by up to 0.15%, with rates starting from 4.45%.

In addition, BTL selected fee-savers will be reduced by up to 0.07%, with rates starting from 4.70%.

Meanwhile, the lender’s exclusive BTL 75% loan-to-value (LTV) two-year with a 1% fee will be reduced by 0.10% to 4.82%.

Other rate cuts within the range include: • 60% LTV 5 Year with £2,195 fee will be reduced by 0.03%, to 4.31% • 60% LTV 2 Year with 1% fee will be reduced by 0.08%, to 4.69% • 60% LTV 5 Year with 3% fee will be reduced by 0.03%, to 3.90% • 75% LTV 5 Year with 3% fee will be reduced by 0.03%, to 3.90%

Selected BTL product transfer products have also been reduced by up to 0.15%, with rates starting from 4.17%.

Meanwhile, Halifax will cut selected product transfer and further advance offers by up to 32bps.

The lender adds that brokers should submit applications in full by 8pm on 19 August to secure existing products.