Virgin Money said the changes would come into force on 1 May.
On the exclusive purchase side, the lender has added a duo of five-year fixed rates at 75% loan to value (LTV) with an £895 fee and without a fee. The rates come to 4.09% and 4.22% respectively.
The firm’s two-year fixed rate with an £895 fee at 80% LTV will fall by 0.05% to 4.24%, while its fee-saver equivalent has gone down by 0.08% to 4.44%.
Within its purchase range, selected shared ownership fixed rates will be cut by up to 0.17%, starting from 4.25%.
In its BTL range, selected two- and five-year fixed rates with a 3% fee will be reduced by up to 0.04%, beginning from 3.29%.
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Selected two- and five-year BTL fixed rates with a 1% fee will decrease by up to 0.12%, starting from 4.12%.
Virgin Money added that selected two- and five-year BTL fixed rates with a £2,195 fee will be reduced by up to 0.15%, with prices from 4.14%.
Two- and five-year BTL fixed rates at 60% LTV with a £995 fee will be cut by up to 0.1%, starting from 4.29%.
Within its product transfer range, selected two-, three- and five-year fixed rates at 65% and 75% LTV will fall by up to 0.07%, selected two-year BTL rates will decrease by 0.05% and selected five-year BTL rates will fall by 0.01%.
Atom Bank cut Near Prime rates
Atom Bank has lowered rates in its Near Prime residential mortgage range by up to 0.35%.
The lender attributed the cuts to “recent swap rate movements” and said the changes showed its “determination to provide outstanding value to a segment of borrowers under-served by mainstream mortgage lenders”.
The cuts come into force effective immediately, with two-year fixed rates starting from 5.59%, three-year fixed rates beginning from 5.44% and five-year fixed rates priced from 5.24%.
Atom Bank recently increased its Near Prime LTV to 90% and this is the third time the bank has dropped Near Prime rates in 2025.
Richard Harrison, head of mortgages at Atom Bank, said: “The financial strain of recent years means brokers are seeing greater numbers of clients who have experienced a temporary payment issue, and so fall within the Near Prime category.
“We are committed to providing these borrowers, including those with more modest deposits, with access to highly competitive mortgage products, which is why we move quickly to reduce rates whenever possible.”
He continued: “We have repeatedly broken internal records for Near Prime lending over the last 12 months and have big ambitions for becoming the first-choice lender for brokers when their client has a less-than-spotless credit record.
“The combination of consistent cuts, criteria enhancements and our market-leading speed of service are helping us to scale up our Near Prime lending to support even more borrowers in the future.”
Market Harborough BS lowers fixed rates
Market Harborough Building Society has lowered residential and BTL fixed rates by up to 0.25%.
Two-year fixed rates are 0.25% lower and three-year fixed rates are reduced by 0.1%, while five-year fixed rates are unchanged.
Residential rates for cases up to £2m start from 5.19% for a fixed rate and 5.64% variable for tier one cases up to 75% LTV with a £1,495 fee.
BTL rates start from 5.45% fixed and 5.9% variable for tier one cases up to 75% LTV, including top slicing and lending into retirement as standard.
Iain Smith, Market Harborough Building Society’s head of mortgage distribution, said: “Off the back of another strong financial year and our recent criteria enhancements, we’re pleased to announce this reduction across our residential and let fixed rates. Our promise to be Best for Brokers remains as firm as ever and, as always, we let our partners know about this product withdrawal ahead of time.”
