As part of the changes, all new Virgin Money residential and buy-to-let purchase products now include a free basic valuation.

£1m+ products have seen the largest rate increases.

Virgin has also launched new five-year fixed rate product transfer options from 4.04%.

Borrowers can now access cashback options of either £5,000, £7,000 or £10,000.

10-year fixed rate residential products have seen the largest reductions.

Rates have reduced by up to 0.10%.

High-LTV mortgage rates have seen further reductions.

The lender has reduced rates at 90% and 95% LTV.

High-LTV residential rates are among the latest reductions.

The lender has also reduced existing mortgage rates by up to 0.09% and increased others by up to 0.10%.