Virgin Money has made a series of rate reductions and added a number of products to its residential range.

Notable new offerings include a 75% LTV 5-year fix at 1.79%, and an 85% LTV 2-year fix at 2.79%.

Both deals include £1,000 cashback, a £995 fee and are for purchase only.

Virgin Money reduces rates on high LTV range

In addition, it is also offering a 90% LTV 2-year fix at 3.29% for a two-week period.

This deal is for first-time buyers only, and also includes £1,000 cashback and a £995 fee.

Looking to notable reductions, the 75% LTV 5-year fix has been cut by 0.15% to 1.73%, and the 85% LTV 5-year fix by 0.08% to 2.86%. Both deals include a £995 fee.

For shared ownership deals, the lender has reduced the rate on the 90% LTV 5-year fee-free fix by 0.40% to 4.09%.

Meanwhile, for product transfer shared ownership offerings, Virgin Money has reduced the 90% LTV fee-free fix by 0.20% to 4.09%.

The changes are effective from Wednesday 3 February.

According to the lender, it has made brokers aware of these changes through an intermediary communication.