The changes will come into force from tomorrow.
On the exclusive side, its five-year fixed rate at 65 per cent loan to value (LTV) with £1,495 fee will fall by 0.14 per cent to 3.9 per cent.
Its five-year fixed rate with £995 fee has decreased by 0.21 per cent to 3.91 per cent.
The lender’s five-year fixed rate at 90 per cent LTV with £1,495 fee will reduce by 0.02 per cent to 4.41 per cent.
Selected fixed rates will be reduced by up to 0.2 per cent.
Core range
In its core range, reductions of up to 0.15 per cent have been applied, its five-year fixed rate at 65 per cent LTV with £995 fee has fallen by 0.15 per cent to 3.95 per cent.
Its five-year fixed rate fee-saver will be reduced by 0.1 per cent to 4.14 per cent.
Buy to let
Virgin Money has also lowered buy-to-let rates, with its two-year fixed rate at 50 per cent LTV going down by 0.11 per cent to 4.07 per cent.
Its five-year fixed rate at the same LTV has decreased by 0.1 per cent to 4.1 per cent. Both of the above come with a £3,995 fee.
The lender added that on the product transfer side selected residential and buy-to-let fixed rates will be reduced by up to 0.33 per cent.
Rate increases
Virgin Money said that from 8pm today, exclusive residential 75 per cent LTV purchase two-year fixed rate with a £1,495 fee will be increased by 0.10 per cent. Selected product transfer fixed rates will also be increased by up to 0.1 per cent.
Richard Walker, head of intermediary sales at Virgin Money said: “We have made a number of reductions across our residential and buy-to-let range supporting all segments of the market including those customers who may be looking to make the next step on the housing ladder.
“For those customers looking for longer-term security, we have a new five year fixed rate at sub-four per cent at 65% LTV.”
