Virgin Money is cutting rates on high loan to value (LTV) mortgages by up to 16 basis points (bps) and is also slashing 89 bps from one of its buy-to-let products.
The lender is trimming rates on 11 new business residential deals with seven at 85 per cent LTV and three at 90 per cent LTV.
These include a pair of broker exclusive purchase only mortgages with £1,000 cashback and £995 fee with the 85 per cent LTV version reduced by 10bps to 2.59 per cent and the 90 per cent LTV edition down six bps to 3.23 per cent.
The largest cut to residential deals has been made to the 85 per cent LTV two-year fix with zero fee reduced by 16bps to 2.82 per cent.
One 75 per cent LTV two-year fix with £995 fee has also been cut by 10bps to 2.08 per cent.
Meanwhile, the buy-to-let 80 per cent LTV five-year fix with £995 fee has been reduced by 89bps to 3.59 per cent.
The changes take effect from 22 March.
